Application process
Step One - Submit Application
Submit your portfolio landlord application via BM Solutions Online. As part of the application, upload proof of income for all applicants. We need proof of every source of income for each applicant. If mortgaged properties within the portfolio are held in a limited company we will also require the latest mortgage statement or mortgage offer (if completed in the last 12 months).
For applications started before 09 November 2023, complete the Portfolio Landlord section in the Mortgage Portal.
**YOUR APPLICATION WILL NOT PROGRESS UNTIL ALL OF THE ABOVE HAS BEEN FULLY COMPLETED**
Step Two - Portfolio Landlord Support Team
You will be allocated a dedicated case handler from our Portfolio Landlord Support Team, and they will make contact with you. They will assist you with any final steps to prepare your case for underwriting, and instruct the valuation. You can contact the team at any point for support during the application process on 0345 6020914.
Step Three - Underwriting
Our specialist underwriters will review your application. They will contact you to advise you of their decision, and may request further information to support the application.
TREATMENT OF FINANCE COSTS
Since 6 April 2020, tax relief on finance costs for landlords of residential properties is restricted to basic rate of income tax, regardless of which tax band the landlord falls into. Accordingly, profit from land and property as it appears on a tax calculation no longer has finance costs deducted. Our underwriters will deduct the finance costs from the profit from land and property to understand what the client's useable income figure is. Where this results in useable income falling below the minimum required for portfolio landlord applications, or falling to a level which raises affordability concerns, this may lead to a decline decision.
Step Four - Valuation and Offer
Once the valuation has been carried out and application has been fully underwritten and agreed, your case should move to offer.