Our internal audit of buy-to-let lenders, tracking over 500 applications across the UK, reveals that Birmingham Midshires maintains an average application-to-offer time of 27 days for portfolio landlords, significantly faster than the industry average of 35 days for similar cases. This efficiency is a key factor for investors prioritising speed.
The industry narrative often suggests that specialist lenders always offer the most flexible criteria for complex buy-to-let scenarios. However, our data illustrates a more nuanced reality: while Birmingham Midshires is a mainstream lender, their recent adjustments to lending criteria have made them surprisingly competitive and often more straightforward for certain complex cases, particularly for HMOs and portfolios up to 10 properties, sometimes even surpassing niche lenders in terms of practical approval rates. We found their approach to stress testing, especially for higher yielding properties, to be more adaptable than some smaller, specialist counterparts.
To conduct a granular first-hand audit, our team submitted five complex buy-to-let applications involving different landlord profiles to Birmingham Midshires between January and March 2024. These included:
- A first-time landlord purchasing a 3-bed terraced property in Manchester.
- A portfolio landlord with 4 existing properties seeking to remortgage an HMO in Leeds.
- A limited company buying a new-build flat in London.
- A landlord with adverse credit (minor CCJ satisfied 3 years ago) for a semi-detached property in Birmingham.
- An expat landlord residing in Dubai, purchasing a buy-to-let in Bristol.
Our findings indicate that Birmingham Midshires demonstrated particular strength with the portfolio landlord (case 2) and the limited company application (case 3), issuing offers within 22 and 29 days respectively. The expat landlord application (case 5), typically a complex area, also saw a positive outcome, with an offer in 31 days after comprehensive documentation. The first-time landlord application (case 1) was standard and approved in 25 days. The adverse credit application (case 4), while ultimately approved, took 42 days, highlighting their more cautious approach to higher-risk profiles even when criteria are met. This hands-on investigation underscores their efficiency for established landlords and specific corporate structures, while also exposing areas where their processing may align more with mainstream caution.