Buy to Let Mortgage for First Time Buyers
HMO Mortgages Suitable for First Time Buyers
If you are not an existing homeowner and you are looking to buy an investment property in the UK for the first time, the options for mortgaging tend to be quite narrow. Lenders will usually want to assess the mortgage based on your personal income rather than the rent. However, we do have lenders who can accommodate first-time buyers for Buy-to-Let property and incorporate the rental value rather than purely personal income based validation.
Lending is available up to 75% LTV for first-time buyers investing in BTL property.
Products for First-Time Buyers with no Existing Investment Properties
All types of property can be accommodated, with mortgages available up to 85% of property purchase price (or property value for remortgages). Interest only is available with virtually all lenders, if required.
We can advise you and suggest a range of suitable options for you to choose from. We can email a full mortgage illustration for you to consider once you’ve chosen the mortgage that suits you best.
First time buyer & First time landlord
UK passport or UK driving licence as proof of ID
Evidence of deposit funds for property purchases
Applicants can be Employed, Self Employed
Types of Property
Houses and Self Contained Flats
Freehold or leasehold title
Flat must have own entrance
Property located in England Wales and Scotland
General Lending Criteria
Purchases or Remortgage
Interest only or capital + interest repayment
Mortgages up to 70% Loan to Value
Lending to Limited companies considered