The Mortgage Cafe

Buy to Let Mortgage for First Time Buyers

BTL 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.

Call us now on 0330 173 6570 to discuss your options

Typical Product criteria (1st time buyers)

Mortgages available for applicants who are not homeowners and want to purchase an investment property.

  • Maximum lending 75% LTV
  • Interest rates from 1.60%
  • Minimum loan size £35,000
  • Maximum loan size £2m
  • Mortgage term 5 years to 25 years
  • Ex-local authority properties accepted

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Buy to Let Mortgages as Low as 1.60% pa


Typical Product criteria (1st time landlords)

  • Maximum lending 80% LTV
  • Interest rates from 2.89%
  • Minimum loan size £30,000
  • Maximum loan size £500,000
  • Mortgage term 1 year to 40 years
  • Ex-local authority properties accepted

Types of Property

  • Houses and Self Contained Flats
  • Freehold or leasehold title
  • Flat must have own entrance
  • Property located in England Wales and Scotland
  • Freehold flats in Scotland
  • Flats above certain commercial / retail properties

General Lending Criteria

  • Best products are where personal income is £25,000 or more
  • Other products available for lower incomes
  • Repayment mortgage, or interest only mortgage
  • Mortgages available up to 80% LTV (1st time landlords)
  • Can also lend to limited companies

BTL Mortgages Suitable for First Time Landlords

First time landlords are classed as UK homeowner-occupiers who do not currently own a BTL property. If this is your first Buy-to-Let purchase, then we can discuss all options with you and answer any questions you may have. Applicants do not need letting experience with these lenders. All types of property can be accommodated, with mortgages available up to 80% of property purchase price. Interest only is available with most lenders, if required. We can discuss this with you and suggest a range of suitable options for you to choose from. We will then send you a full mortgage illustration for you to consider once you’ve chosen the mortgage that suits you best.

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