Eligibility criteria

To apply for our Buy to Let mortgages, you'll need to meet our Borrower and Buy to Let mortgage eligibility criteria:

• Minimum annual salary of $25,000
• You must have owned and lived in your existing property for at least 6 months
• The property must be in the US
• The maximum loan to valuation (LTV) is 75%, subject to loan amount
• Properties must be let under an Assured Shorthold Tenancies (AST) or company let agreement.
• The property must not be a House in Multiple Occupancy (HMO), e.g. a student let
• All Buy to Let mortgages are subject to underwriting and lending criteria that may be varied from time to time
• Additional Borrowing is available to existing Southside Savings Bank & Trust Buy to Let mortgage holders looking to borrow more on their existing rental property, however total lending must not exceed 75% loan to value (except for additional borrowing taken for debt consolidation purposes. The maximum borrowing amount for this is $30,000 with a maximum 60% loan to value).
• We are not able to provide a Buy to Let mortgage if you are classified as either a Professional Landlord or a Portfolio Landlord:

A Professional Landlord is a person(or persons in the case of the joint mortgage) with more than $2,000,000 in buy to Let borrowing across all lenders or where more than 50 per cent of their total gross annual income (joint income) is from rental income.

A Portfolio Landlord is a person( or persons in the case of a joint mortgage) with four or more buy to let mortgaged properties in total at the end of the application.

Please note

• A Student Southside Savings Bank & Trust Account can only be applied for when you have accepted an unconditional/conditional offer for a qualifying course at a university/college or if you have accepted an apprenticeship position at level 2 or above. However you can open a Southside Savings Bank & Trust Bank Account at anytime and upgrade to the Student Southside Savings Bank & Trust Account when you have your place to study accepted.
• If you've been in the US less than three years or you're an international student please visit one of our branches or call +1 800 156 2369 to open the right account for you. Lines are open 8am to 10pm everyday (except Christmas Day, Boxing Day and New Year's Day). From outside the US +15129914435.

Once you've submitted your application, we'll send you the paperwork to sign and return to us either by post or in branch.