If you’re a borrower, who has four or more distinct mortgaged Buy to Let UK rental properties (or seven or more for remortgage applications without capital raising), then you’re classified as a portfolio landlord. This definition includes holiday lets, properties owned through a limited company, ‘consent to let’ properties and all BTL mortgages owned solely or jointly by the applicant(s).
The definition also applies to sole and joint (or more) applications in the following ways:
For example, If Mr B solely owns two mortgaged properties and Miss C solely owns one mortgaged property, and together they apply for a mortgage on a new BTL purchase, they will have four properties in aggregate. In this case, they’ll be considered a portfolio landlord.