Buy To Let Mortgage For First Time Buyers
f 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.
Mortgages available for applicants who are not homeowners and want to purchase an investment property
First time buyer & First time landlord
Information for applications
- 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
Details about types of acceptable property here
- Houses and Self Contained Flats
- Freehold or leasehold title
- Flat must have own entrance
- Property located in England Wales and Scotland
Tenancy types accepted
- Working professionals
- Corporate lease arrangements (such as let to local authority)
General Lending Criteria: Buy To Let Mortgage For First Time Buyers
- Purchases or Remortgage
- Interest only or capital + interest repayment
- Mortgages up to 70% Loan to Value
- Lending to Limited companies considered
Products for first-time buyers with no existing investment properties
Virtually all lenders will lend to applicants who are UK homeowners. 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 most of these lenders.
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.
Call our experienced adviser today on 0117 223 2050 to discuss your requirements.
Enquire online for a first-time buyer BTL mortgage no obligation quote
Contact us on 0117 2232050 to discuss your requirements with a Buy To Let mortgage specialist
Assisting you in the mortgage process
We can even complete the mortgage application on your behalf. The mortgage adviser can help you complete the application over the phone or email.