There are some lenders who do not focus on your personal income when it comes to taking out a buy to let mortgage, whereas others need you to be earning £25,000 pa or more. It is much easier to get a buy to let mortgage if you are a homeowner, but it is possible for a first time buyer/first time landlord combination.
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More and more landlords are starting their own limited companies to buy their properties through, you’ll need to speak to an accountant if you think this might be right for you.
Apply NowHow much deposit do I need for a buy to let?
Usually, the minimum deposit for a buy to let mortgage is 25% of the property value. Although, this can vary between 20%-40% depending on your history as a landlord.
How much can I borrow for a buy to let?
The amount that you can borrow for a buy to let mortgage will be determined by the rental income that the property is likely to generate. Also, most lenders will require you to have an income yourself from a main job or self employment.
How much do I need to earn to get a buy to let mortgage?
There are some lenders who do not focus on your personal income when it comes to taking out a buy to let mortgage, whereas others need you to be earning £25,000 pa or more.
Can I use the equity in my house for a buy to let deposit?
If you have sufficient equity in your house and can release this equity via a remortgage, you are able to use this for a deposit on a buy to let property. Remember, a buy to let deposit is typically 20%-40%.
Can I get a buy to let mortgage as a first time buyer?
The simple answer is yes, however, most lenders will want an applicant that currently owns a property over someone who has no experience in the field.
We're flexible around your work and family, we'll be there when you need us.
No upfront fees payable, we are paid on results only.
You'll always know who you are dealing with.
No vested interests, do you want your builder or estate agent knowing your maximum lending when you're trying to negotiate your price, you'll receive a mortgage tailored to your needs.
Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.
We shop around for the cheapest deal for you, saving you time and money.
There isn't a situation we haven't come across before, we fully understand your needs.
We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.
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Helen was very helpful and arranged us an appointment the same day with the mortgage advisor.
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This company has been amazing in sorting our mortgage. Got the job done quickly and efficiently.
UK moneyman have been absolutely amazing helping me and my partner obtain a mortgage. We are both young and only had contracts of employment, but this was not an issue for them at all. Jason, Chloe and Dan have been so helpful, and frequently in...
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Where do I start! Mizna rang me for a review and at first I dismissed it…. So glad I let Mizna review my existing policies, our medical questions weren’t documented probably, I didn’t have cover that I thought I had. Mizna has...
You could say I’m getting on a bit and I was worried that I wouldn’t be able to get a shortish term mortgage then I saw an advert for ukmoneyman and it couldn’t have been easier from start to finish. The whole process must have...
UK Moneyman has been a fantastic mortgage broker from the start to the finish of the process. They found us an excellent mortgage offer swiftly and efficiently- even going the extra mile by working with us between Christmas and New Year. As first...
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Mizna helped arrange life cover for me and my partner. She was very knowledge and professional taking the time to explore our individual needs. This gave us confidence that we took out the best policy to suit our circumstances. She helped guide...
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Very honest and helpful
Mizna Coates has done a fantastic and more importantly, unbiased and diligent job in advising us on a number of Insurance products ranging from life and critical illness to house insurance. Mizna is engaging, open and honest in her approach and the...
Dale was lovely and put me at ease for my initial call Thank you Dale
Great service from start to finish. Jason and Dan kept us informed throughout and really took the pressure off us.
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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
