First Time Buyer Buy to Let Mortgages

We help customers who may be looking to make their first purchase a buy to let property.

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Can I become a landlord if I'm not an existing homeowner?

Most buy to let lenders want new customers to be existing homeowners but it is possible in some circumstances to obtain a first time buyer buy to let mortgage.

You will need to have a good income in order to qualify for one of these, usually £25,000pa or more and also have a 25% deposit.

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It may be possible for a first time buyer to become a landlord with their first property.

Whilst it is unusual to encounter buy to let first time buyer scenarios, sometimes it can where the applicant is young and wants to continue living in the family home or if they live with a partner but they are not named on their mortgage.

Through our experience being a Mortgage Broker, we have dealt with various first time buyer buy to let scenarios.

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Popular FAQs

Can a first time buyer purchase a buy to let?

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The simple answer is yes, you can become a buy to let first time buyer, however, most lenders will want an applicant that currently owns a property over someone who has no experience in the field.

Can I live in my buy to let?

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You cannot live in your buy to let property. These mortgages are designed for landlords who will rent them out to tenants. You will need a standard residential mortgage for a home if you want to live in the property.

What is the criteria for a first time buyer buy to let mortgage?

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To get a mortgage on an investment property, you will generally need a deposit of at least 25%. The amount you can borrow is usually calculated on the rental income that the property is likely to generate.

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 have 2 mortgages?

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Yes, you can, however you will need to provide sufficient evidence that you will have the ability to meet both sets of monthly mortgage payments from either your personal earned income or rental income.

Can I use the equity in my house for a first time buyer buy to let deposit?

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If you have sufficient equity in your house and can release this equity, you are able to use this via a remortgage for a deposit on a buy to let property. Remember, a buy to let deposit is typically 20%-40%.

Why choose a mortgage broker?

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Our job as a mortgage broker is to put you in the best situation possible as a first time buyer landlord by searching through 1000's of buy to let deals to find the most suitable one for your personal and financial state. We are here every step of the way on your buy to let journey to answer any questions you may have.

8 Reasons to choose UK Moneyman

Open 7 days a week until late.

We're flexible around your work and family, we'll be there when you need us.

No cost to you consultation.

No upfront fees payable, we are paid on results only.

You'll get your own dedicated case manager.

You'll always know who you are dealing with.

We're on your side, we work for you.

Getting a new mortgage or porting an existing mortgage isn’t always easy. We’ll be here to answer all your questions throughout the whole process.

We're authorised by the Financial Conduct Authority, a consumer watchdog for financial services.

Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.

1000s of potential options.

We shop around for the cheapest deal for you, saving you time and money.

We're experienced and knowledgeable.

There isn't a situation we haven't come across before, we fully understand your needs.

It's not just about the mortgage.

We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.

Our Customers Love Us

Reviews Stars4.98 Rating211 Reviews

We search 1000’s of mortgage deals for you

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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.

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