Limited company buy to let remortgage, done properly.
For SPVs, portfolio landlords and commercial investors: coming off a fixed rate, releasing equity for the next purchase, or exiting a bridge on a refurbished property. The loan is tested twice, on value and on rental cover, and the second test is the one that usually binds.
By Dominic Whitecross, Co-Founder, HyLend. Last reviewed September 2026.
Who this is for, and who it is not
We arrange buy to let remortgages for limited companies and SPVs, portfolio landlords and commercial investors, including HMOs, multi unit blocks and mixed portfolios. This is non regulated business.
We do not arrange regulated mortgage contracts or consumer buy to let agreements, which means we do not act for individuals remortgaging a single property in their own name. If that is your situation, a regulated mortgage adviser is the right person to speak to.
The two tests that set your loan
Every buy to let remortgage is constrained twice, and the lower answer is the loan.
| Test | How it works | Where it binds |
|---|---|---|
| Loan to value | A percentage of the valuation, typically up to 75% | High value, low yield property |
| Rental cover (ICR) | Rent must exceed stressed interest by a margin, commonly 125% for companies | Most properties outside the highest yielding areas |
The stress rate is the detail that decides it. On shorter fixed rates lenders typically stress at the pay rate plus a margin, or at a floor rate, whichever is higher. On five year fixed rates many lenders stress at the pay rate itself. That is why a five year fix will often support a larger loan than a two year fix at the same rent, and why product choice on a remortgage is a loan size decision before it is a rate decision.
| £300,000 valuation, £1,500 a month rent | Two year fixed | Five year fixed |
|---|---|---|
| Stress rate applied | pay rate plus 2%, say 7.5% | pay rate, say 5.5% |
| Maximum loan by rental cover at 125% | about £192,000 | about £262,000 |
| Maximum loan by value at 75% | £225,000 | £225,000 |
| Loan offered | £192,000 (rent binds) | £225,000 (value binds) |
Illustrative only. Stress rates, cover ratios and floors vary by lender and change with the market.
Remortgage or product transfer
A product transfer keeps you with the existing lender on a new rate, usually without a new valuation or legal work. Fast and cheap to arrange. A remortgage moves the facility to a new lender and reprices everything, which is worth it where the market rate is materially better, where you want to release equity, or where the incumbent's offer is poor.
Compare the two on total cost over the period you will actually hold the property, including the arrangement fee, valuation and legals on the remortgage. A remortgage that saves 0.4% but costs 2% in fees needs five years to pay for itself.
Releasing equity for the next purchase
The most common reason a limited company remortgages is to recycle capital: buy, refurbish on a bridge, let, then remortgage onto a term facility at the higher value and release the uplift as the deposit on the next one. The remortgage is sized on the new valuation and on the rental cover, and both have to support the larger loan. Bridge to let, the full structure →
On an HMO, the valuation basis is the whole lever
Valued as bricks and mortar, an HMO is worth what a large house is worth. Valued on a commercial investment basis, using the rent roll and a yield, it can be worth substantially more, and the remortgage is sized on that figure. Lender criteria decide which basis you get.
Portfolio remortgages
Where several properties sit on separate facilities, a single portfolio remortgage can simplify the structure, release equity across the whole and reprice everything at once. Every property is valued, an aggregate adjustment may apply, and the timeline is longer. A clean schedule of tenancies, rents and conditions supplied at the outset is the most effective accelerator. Portfolio finance →
Free template: run the two tests yourself
The bridge to term deal sheet sizes a term loan by value and by rental cover at a stressed rate.
- Bridge to term deal sheet see which test binds and the rent you need.
Buy to let remortgage FAQs
Can a limited company remortgage a buy to let?
Yes. Limited company and SPV buy to let remortgages are a mainstream product with a wide lender pool, used to move off a fixed rate that is ending, to release equity for the next purchase, or to refinance a bridge on a property that has been refurbished and let. We arrange them for limited companies, SPVs, portfolio landlords and commercial investors. We do not arrange regulated mortgage contracts or consumer buy to let agreements for individuals borrowing in their own name.
How is the maximum loan calculated on a buy to let remortgage?
Twice, and the lower answer wins. First as a percentage of the valuation, typically up to 75%. Second by rental cover: the rent has to exceed the stressed interest by a set margin, commonly 125% for limited companies, with the stress rate depending on the product. On a five year fixed rate many lenders stress at the pay rate, which is why longer fixes often support a larger loan than shorter ones at the same rent.
Should I remortgage or take a product transfer?
A product transfer keeps you with the existing lender on a new rate, usually with no new valuation or legal work, so it is faster and cheaper to arrange. A remortgage moves you to a new lender and reprices the whole facility, which is worth it where the market rate is materially better, where you want to release equity, or where the existing lender's new rate is uncompetitive. Compare the total cost including fees over the period you will hold the property.
Can I release equity from a buy to let by remortgaging?
Yes, subject to the two tests above. The new loan is sized on the current valuation and on rental cover, and the amount above the existing debt is released to the company. Most lenders require a legitimate business purpose, and the deposit on the next property is the most common one. Where a property has been refurbished on a bridge, the uplift in value is what makes this work.
How long does a limited company buy to let remortgage take?
Four to eight weeks on a single property, faster than commercial lending because the valuation route is lighter on standard residential stock and the underwriting is more formulaic. Company documents, director identification, the tenancy agreement and rental evidence decide whether it lands at the fast or slow end. Portfolio remortgages take longer, because every property is valued.
Does an HMO remortgage work differently?
Yes, on the valuation. An HMO can be valued as bricks and mortar, comparable to a single house, or on a commercial investment basis using the rental income and a yield, which can produce a materially higher figure. Which basis you get depends on lender criteria, typically six or more lettable rooms, appropriate planning and licensing, and a layout not easily reverted to family use. Getting onto a commercial basis is often the biggest lever on an HMO remortgage.