Buy to Let Mortgages from Penrith Building Society

I’d like to finance a Buy to Let Property

Whether you are an existing landlord looking to remortgage your Buy to Let property or keen to purchase a new Buy to Let, it’s worth having a conversation with one of our qualified mortgage advisors.

We permit capital raising on a Buy to Let remortgage – meaning you can increase your borrowings to improve the property or even use the funds to purchase another investment property.  And, if you or a family member have lived in the property at some point, meaning that it would be treated as a Consumer Buy to Let – we can still help.

We are also pleased to assist first-time landlords and first-time buyer landlords, as we understand that our borrower’s circumstances differ and that not every landlord owns their own residential property.

We pride ourselves with looking after our members and supporting new borrowers on their home ownership journey. However, we have suspended our direct mortgage appointments at this time, except where you are:

• looking for a self-build mortgage or
• are an existing borrower with us.

We will continue to accept mortgage applications where the advice has been provided by a mortgage intermediary (also known as a mortgage broker).

ProductsProd CodeMore DetailsDistributionInitial RateInitial PeriodReverts toApp FeeProduct FeeFree Val?Fee Assisted Legals?Max LTVMin Loan AmountMax Loan AmountERCFeatures
Buy to Let (Purchase)P039View DetailsBroker & Direct5.59%3 YearsSVR£0£999NoNo70%£30,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3


  • Overpayments up to 10% of the outstanding loan per year.


  • Portable


Buy to Let (Remortgage)R270View DetailsBroker & Direct5.59%3 YearsSVR£0£999YesYes70%£30,000£500,0002% of capital repaid in years 1 and 2 and 1% of capital repaid in year 3


  • Overpayments up to 10% of the outstanding loan per year.


  • Portable


NOTES LTV - Loan To Value SVR - Standard Variable Rate (currently 7.99%) Fee Assisted Legals - where the product selected includes fee assisted legals, the applicants must use the Society's nominated solicitors. For loans in excess of 80% LTV, a higher lending charge will be payable. From time to time, the Society may meet this charge for you - either in part or in full. Full details will be included within your ESIS Illustration. Normally where the fee is paid by Penrith Building Society, this will be up to a maximum of £1,500. Typically, where the Higher Lending Charge is more than £1,500, you will be responsible for meeting the sum in excess of £1,500. Self Build/Renovation mortgage - 75% on plot / 75% max LTV available throughout the build, payable in arrears. Borrowers are expected to contribute their own funds in advance of mortgage draw down throughout the construction. On a product by product basis, the Society applies limits to the maximum sum it is prepared to advance. These limits vary, dependent upon the product selected. Please refer to individual product information for further guidance.
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