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New Business Buy to Let criteria


For Intermediary use only

Existing customer? Click here.


To help make our New Business Buy to Let criteria quicker for you to reference and easier to understand we have put all of the key points in one place. This has been split up into handy sections which can be viewed using the quick links below.


Product details >

Loan details >

Applicant details >

Fee details >


Alternatively, to view our New Business Buy to Let products click on the links below.


View our New Business Buy to Let products >


Product details


Bullet pointAll products are portable

Bullet pointAdministration fee is non-refundable

Bullet pointArrangement fee may be added to the loan providing the total loan including fee does not exceed the LTV for the product selected.

Bullet pointReversionary rate:

        Up to 70% LTV - 5.25% (BBR* + 4.50%)

        Up to 75% LTV - 5.75% (BBR* + 5.00%)


*If BBR falls below 0.50% the initial/reversionary rate will be charged at 0.50% + product initial/reversionary rate loading


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Loan details


Rental calculation: The following Interest Coverage Ratios (ICR) will apply to the applicant with the highest gross income:

  • Bullet point Standard rate tax payer (20%) - 128% ICR
  • Bullet point Higher/Additional rate tax payer (40% & 45%) - 145% ICR

The only exception is for a Higher/Additional rate tax payer requesting a BTL remortgage replacing the existing mortgage £ for £ where the minimum ICR is 128% with the following qualifying rules:

  • Bullet point The property was purchased prior to January 2017
  • Bullet point No further borrowing after January 2017


The ICR must cover the monthly repayment which is based on the BTL stressed interest rate.


Not available in Northern Ireland

Bullet pointNot available to first time buyers

Bullet pointMaximum portfolio exposure 3 Buy to Let properties totalling £1.5m. If the customer also has their main residential  

     mortgage with the Co-operative Bank, Britannia or Platform total exposure including this residential loan must not exceed £2m.Bullet point

Maximum 3 total properties owned with all lenders


Loan Purpose Maximum LTV Minimum property value Minimum loan amount Maximum loan amount Minimum term Maximum term
Purchase 75% £75,000 £25,001


5 years 40 years**
Remortgage £ for £ 75% £75,000 £25,001


5 years 40 years**
Remortgage home improvements 75% £75,000 £25,001


5 years 40 years**
Remortgage capital raising 70% £75,000 £25,001


5 years 40 years**
Remortgage debt consolidation 70% £75,000 £25,001


5 years 40 years**

**Maximum Age at expiry of mortgage term is 75.


 Buy to Let Personal Income >


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Applicant details


Bullet pointOne applicant must be an owner occupier, where second applicant is not they must be married/cohabiting at the same address

Bullet point

Minimum Household income is £25k.

Bullet pointMinimum age is 21 for BTL products.

Bullet pointMaximum age is 75 at the end of the term.



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Consumer BTL


Platform provides BTL mortgages but it does not cater for the consumer BTL market. For clarity, Platform offers BTL mortgages in the following scenarios:


Bullet point

Purchase: a customer wanting a mortgage to buy a BTL property where the borrower has solely a commercial interest in the property and any close relations have never and do not ever intend to live in the property

Bullet point

Remortgage: where the borrower wishes to remortgage an existing BTL property and the borrower has solely a commercial interest in the property and any close relations have never and do not ever intend to live in the property

Bullet pointLet to buy: remortgage of a residential property onto a buy to let, providing we receive evidence of a mortgage offer on the new residential property prior to the offer of the BTL loan and the customer already holds buy-to-let properties


In addition the Platform lending Criteria also stipulates we will not lend on a BTL application where the tenant is either a family member or previous owner.  Family member is defined as – Spouse, Partner, Parent, Sibling, Child, Grandparent, Aunt/Uncle, Nephew/Niece.


Fee details


Introducer fee


(max £1,680)


Property valuation Valuation fee Additional home buyer fee Additional Fee For Building Survey
Up to £100,000 £118 £140 £376
£100,001 to £150,000 £135 £175 £402
£150,001 to £200,000 £149 £213 £432
£200,001 to £250,000 £179 £220 £438
£250,001 to £300,000 £204 £231 £450
£300,001 to £400,000 £264 £270 £466
£400,001 to £500,000 £310 £314 £505
£500,001 to £600,000 £354 £370 £575
£600,001 to £700,000 £413 £401 £595
£700,001 to £800,000


£440 £625
£800,001 to £900,000


£484 £634
£900,001 to £1,000,000  £549 £535 £690
£1,000,001 to £1,250,000 £695 £550 £844
£1,250,001 to £1,500,000 £834 £536 £1,005
£1,500,001 to £1,750,000 £935 £709 £1,204
£1,750,001 to £2,000,000 £1,030 £799 £1,409
£2,000,001 to £2,250,000 £1,210 £810 £1,529
£2,250,001 to £2,500,000 £1,390 £829 £1,649
£2,500,001 to £2,750,000 £1,570 £850 £1,769
£2,750,001 to £3,000,000 £1,751 £869 £1,888
Over £3,000,000 By negotiation By negotiation By negotiation



Telegraphic transfer fee

Higher lending charge   None


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The information contained within this section is for use by mortgage intermediaries authorised by the FCA.

Information is not to be disclosed or given to the public or is intended as a consumer advertisement as it does not provide APRCs or APRC Representative Examples.


The Co-operative Bank p.l.c. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (No. 121885). The Co-operative Bank, Platform, smile and Britannia are trading names of The Co-operative Bank p.l.c., P.O. Box 101, 1 Balloon Street, Manchester M60 4EP. Registered in England and Wales No.990937. Credit facilities are provided by The Co-operative Bank p.l.c. and are subject to status and our lending policy. The Bank reserves the right to decline any application for an account or credit facility. The Co-operative Bank p.l.c. subscribes to the Standards of Lending Practice which are monitored by the Lending Standards Board.


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