Lending Criteria – Buy To Let (Individuals & Ltd companies)

BlueZest Lending Criteria – for Intermediaries

To be simple and clear, please find below a guideline of our lending criteria. This allows you to see the requirements for the products we have on offer and any particular specifics you may wish to know. Please note; this is not our full mortgage lending policy.

  • Number of applicants

    Maximum 4 applicants

  • Home ownership required

    At least one applicant must have owned the home in which they reside for the last 12 months; Applications where one applicant has been employed with 2 years’ service and an annual salary of at least £75,000 will be considered

  • Applicant residency

    All applicants must reside as a tax resident within the UK, have done so for the last 3 years with indefinite leave to remain, holding an active UK bank account

  • Convictions

    Applicants must not have any unspent convictions for offences, other than minor traffic offences

  • Owners

    All registered owners must be party to the mortgage

Credit History
  • Must have
    • Applicants must be creditworthy and have a good track of servicing loans/credit agreements as evidenced at a Credit Reference Agency
    • Additionally, applicants must not be overcommitted on other secured and unsecured borrowings
  • Declined if

    Mortgage applications will be declined if any applicant has had:

    • Any previous property repossessed
    • A County Court Judgment (CCJ), satisfied or unsatisfied
    • An insolvency (including those pending)
    • Any Debt Management Plan in place
    • Any loan defaults >£50 in the last 36 months
    • Any mortgage arrears in the last 12 months
    • Any “pay day” or “doorstep” loans in the last 36 months
Employment & Income
  • Employed Applicants (PAYE/Permanent contract)
    • Applicants must be able to evidence at least 12 months’ continuous employment
    • Applicants must have more than 3 months at their current employer and not be in a probationary period
    Contractors (PAYE/Fixed term contract)
    • Applicants must be able to evidence at least 24 month’s continuous employment
    • Applicants must have more than 12 months at their current employer and at least 6 months remaining on current contract
    Self-Employed Applicants/non-PAYE contractors
    • Applicants must have been trading in current business for at least 24 months (and be able to provide accounts/tax returns for this period)
  • SPVs

    SPVs are accepted and will be evaluated on a case by case basis. The SPV may not be the only source of income for the applicant(s)

  • Income

    The main applicant should have a minimum gross basic earned annual income (including director dividends) subject to the following limits


    AreaType# of propertiesBlended LTV <=75%>75%
    London and the South EastExperienced<=3 >3£25k £50k£50k #emptyspace#
    London and the South EastFirst Time<=3 >3£25k £50k£75k #emptyspace#
    Rest of England and WalesExperienced<=3 >3£25k £50k£50k #emptyspace#
    Rest of England and WalesFirst Time<=3 >3£25k £50k
Loan Purpose
  • Buy to Let Criteria

    The following are permitted:

    • Purchase or re-mortgage of BTL property
    • Capital raising for purchase of further BTL property
    • Capital raising for BTL property improvements
  • Capital raising

    Capital raising for business purposes is not permitted within BlueZest Mortgage’s BTL policy

  • Further advances

    Further advances are permitted once twelve consecutive full monthly payments have been made and if LTV =< 75%

  • Personal debt

    No personal debt can be consolidated as part of the mortgage

Acceptable Properties
  • Acceptable Properties
    • Properties must be located in England or Wales
    • The property should have a minimum value of £75,000
    • New build properties are acceptable
    • Freehold flats are not acceptable
    • Common-hold properties are not acceptable
    • A minimum of 45 years must be remaining on the lease after the end of the mortgage term and 55 years at the beginning
    • Property must be of standard construction
    • Property must be deemed suitable for residential letting by the valuer
    • Property must be deemed to have good marketability by the valuer
    • Property must have buildings insurance on normal terms
    • Property must not have any agricultural restrictions
    • Property must not cover more than 10 acres
    • Farms and smallholdings are not acceptable
    • Ex-Local Authority flats/maisonettes with a value of less than £250,000 are not acceptable
    • Flats above 4 storeys must have a value of at least £300,000
    • Property must not be subject to any constraint preventing occupation for 52 weeks a year
    • Shared ownership properties are not permitted
  • The following will not be considered:
    • Properties affected by HS2
    • Property where material environmental hazards are present
    • Properties affected by Japanese knotweed
    • Properties affected by overriding interest
    • Mobile homes and houseboats
    • Grade I (England & Wales) listed buildings
    • Less than 10 years old without NHBC/Zurich Municipal guarantees or architects certificate
    • HMOs
    • Unlicensed Multiple Occupancy Housing – e.g. student residence
    • Flats directly above food premises
  • Non-relative

    A purchased BTL property must not be bought from a spouse civil partner, parent, grandparent, sibling, child, grandchild or other close relative of any applicant

  • As non-tenant

    The vendor must not remain as a tenant in the property or retain any interest in the property

  • Tenancy

    None of the mortgagors may reside in the property.

    The property must not be let to a spouse, civil partner, parent, grandparent, sibling, child, grandchild or other close relative of any applicant.

    The property must not be let to:

    • An asylum seeker
    • Any person with diplomatic immunity

    The property must be let on:

    • A single assured shorthold tenancy agreement with a term of between 6 and 36 months
    • A non-assured shorthold tenancy agreement as a corporate let with a large company (>1,000 employees) with a term of between 6 and 36 months

    The maximum number of (adult) occupants is 5. All such occupants must be party to the rental agreement.

    Local authority/housing association tenants are not acceptable.

    “Holiday lets” are not acceptable.

    No HMOs.

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