Can You Get a Buy-to-Let Mortgage as a First-Time Buyer?
Yes, you can! It’s not the most conventional route into property, but more and more first-time buyers are considering buy-to-let as a way to get on the ladder. Whether you’re not ready to live in a home yet or you’re looking for an investment opportunity, buy-to-let can be an option—even without owning your own home first.
Why It’s Harder (But Not Impossible)
Most lenders see first-time buyer buy-to-let (BTL) mortgages as higher risk. The main reasons:
- You’ve never had a mortgage before
- You might lack experience managing property
- You may not have a large enough deposit or income to offset the perceived risk
But there are lenders out there who understand your goals and will consider your application if the numbers add up.
Key Things Lenders Look For
To get approved for a first-time buyer BTL mortgage, lenders will typically want:
- A solid deposit – usually at least 25%
- A strong credit history
- Proof of income from employment or self-employment
- A property that can generate enough rental income to cover the mortgage (usually 125%–145% of repayments)
Challenges to Be Aware Of
- Higher deposit requirement: Expect to need more upfront, especially if you’re new to the market.
- Stamp duty: You’ll usually pay the additional 3% stamp duty surcharge as it’s not a primary residence.
- Limited lender pool: Not all banks offer BTL mortgages to first-time buyers, so options are narrower.
- No personal mortgage track record: This makes it harder for lenders to judge your ability to manage debt.
Benefits of Starting with a Buy-to-Let
- Start building your property portfolio early
- Generate rental income while renting yourself or living elsewhere
- Enter the housing market when you’re not ready to settle down
- Potential for long-term property appreciation
Tips for Getting Approved
- Work with a specialist broker – They’ll know which lenders are open to your situation
- Save as big a deposit as possible – This strengthens your position
- Demonstrate stable income – Full-time work, self-employed accounts, or other investments help
- Choose a property with strong rental potential – Location, tenant demand, and realistic rent estimates matter
Speak to a Buy-to-Let Specialist
Whether you’re exploring buy-to-let for the first time or you’ve already found a property and want advice on the next steps, we can help.
âś… Get access to lenders open to first-time buyer BTL
âś… Find out how much you could borrow
âś… Receive personalised advice based on your goals
Speak to a specialist – Enquire Here
FAQs
Do I have to live in the property?
No—buy-to-let mortgages are specifically for rental properties. You can rent it out while living elsewhere.
Is this a good idea for my first property?
It depends. It can be a smart investment move, but it’s worth speaking to a broker to ensure it’s financially viable for your circumstances.
Will I be taxed differently as a landlord?
Yes—rental income is taxable. There are also stamp duty and capital gains implications to consider.
Can I switch to a residential mortgage later?
Potentially. If you want to live in the property down the line, you’d need to remortgage to a residential product—subject to lender approval.