Buy To Let Mortgage Brokers
What is a buy to let mortgage?
We’re here to explain your options and help you find the best deal
How do buy to let mortgages work?
Buy to let mortgages operate differently from residential mortgages. The main factor lenders consider is the expected rental income, which must be sufficient to cover the mortgage payments. Many landlords choose interest-only mortgages to keep monthly payments lower, although the capital must be repaid at the end of the term. Some landlords opt for repayment mortgages, where both interest and part of the capital are paid monthly. Lenders also consider your credit history, age, and property type when assessing applications. Unlike residential mortgages, personal income may be considered but is not the primary factor for approval.
Who is eligible for a buy to let mortgage?
Lenders in the UK have specific eligibility criteria for buy to let mortgages. Most require applicants to be at least 21 years old and will typically stop lending around age 75 to 80 (lenders vary widely but some mortgage lenders have no maximum age at the end of the term of the mortgage). Rental income must cover at least 125% to 145% of the mortgage payments when stress tested. A strong credit history is also essential for securing a favourable rate. The type of property you are buying can affect eligibility, as certain properties, such as HMOs or flats above commercial premises, may require higher deposits or stricter lending criteria.
Types of buy to let mortgages
There are several types of buy to let mortgages available to UK landlords.
- Standard buy to let mortgage: For landlords who want to purchase a property to rent out, with lenders assessing the loan mainly on expected rental income. Most are interest-only, keeping monthly payments lower, and they are generally unregulated by the FCA.
- Let-to-buy mortgage: For homeowners who want to convert their current home into a rental property to release equity for a new main residence. It allows you to become a landlord while purchasing a new home, but it usually has stricter lending criteria than standard BTL.
- Limited company buy to let mortgage: For landlords who hold the property through a company, often for tax efficiency or managing multiple properties. These mortgages typically require higher deposits and may have slightly higher interest rates.
- Consumer buy to let mortgage: FCA-regulated and aimed at smaller landlords, usually with one or two properties. Lenders assess both rental income and personal income, offering additional consumer protections compared to standard BTL mortgages. Consumer Buy to Let mortgages are for people or their family who used to live in the property you are mortgaging.
There are also specialist products for landlords who want to purchase multi-unit blocks or houses in multiple occupation (HMOs), which usually require higher deposits and stricter lender criteria.
How much deposit do you need for a buy to let mortgage?
Buy to let deposits are generally higher than residential mortgages because letting property is considered riskier. Most first-time landlords should expect to pay a deposit of around 25% of the property value, although some lenders offer deals from 20% for suitable applicants. Higher deposits of 30% to 40% may be required for HMOs, multi-unit blocks, or complex cases. The deposit amount directly affects the interest rate and lender choice, so planning your deposit is an important step in the buying process.
Buying a buy to let property made simple
At Mortgage Saving Experts, we make the process of buying a property to rent out, clear, and stress-free. Here’s how we guide you from that first search to finally getting the keys:
1. We find the best buy to let mortgage for you
We assess your property, rental income, deposit, and experience as a landlord to source the most suitable buy to let mortgage. This includes comparing rates, lender criteria, stress tests, and product types (interest-only or repayment) to ensure the deal works both now and long-term.2. Get your documents ready
We’ll guide you through exactly what’s needed, which typically includes proof of income, identification, credit commitments, and property details. For buy to let mortgages, lenders focus heavily on expected rental income, so we’ll make sure everything is prepared correctly to avoid delays.3. Get an Agreement in Principle
Once your details are reviewed, we secure an Agreement in Principle (AIP) from a suitable buy to let lender. This confirms how much you can borrow and strengthens your position when making an offer on a property.4. Submit your mortgage application
We handle the full application on your behalf, liaising with the lender, valuer, and solicitor. Buy to let applications can be more complex, but we manage the process end-to-end and keep you updated every step of the way.5. Mortgage offer approved and completed
After the lender completes their checks and valuation, your mortgage offer is issued. We work closely with all parties to ensure a smooth completion, so you can move forward confidently with your investment.What are the benefits of using a buy to let mortgage broker?
Using a specialist buy to let mortgage broker gives you access to expert advice, lender options, and mortgage products that aren’t always available directly to the public.
At Mortgage Saving Experts, we help landlords secure the right buy to let mortgage based on your rental income, deposit, property type, and long-term investment goals. Whether you’re a first-time landlord or building a portfolio, we guide you through the process and handle the complexity for you.
We also have experience with specialist buy to let mortgages, including limited company purchases, HMOs, and multi-unit properties, ensuring your application is placed with the right lender first time.
By using a buy to let mortgage broker, you can:
- Save time by avoiding unsuitable lenders
- Access competitive rates and specialist products
- Receive tailored advice based on your circumstances
- Enjoy a smoother, stress-free application process
Ready to start your buy to let journey? We’re here to help
Our expert advisers will guide you through the buy to let mortgage application process, giving you clarity and confidence from start to finish. There are many aspects to all types of mortgage and we understand that you need to make the best decision.
We’re here to explain your options and help you find the best deal
Buy to let mortgage FAQs
Can first-time buyers get a buy to let mortgage?
Yes, first-time landlords can get a buy to let mortgage, although many lenders require a higher deposit, typically around 25 percent, and stricter eligibility criteria.
How is affordability assessed?
Affordability is generally based on whether the expected rental income covers 125 to 145 percent of the mortgage payments when stress tested. Personal income may also be considered in some cases.
Are there any other costs to consider?
In addition to the deposit, landlords must consider other costs when purchasing a property, including Stamp Duty Land Tax, Additional Stamp Duty Land Tax including the Additional Dwelling Supplement, valuation and legal fees, mortgage arrangement fees, landlord insurance, and any letting agent fees. Maintenance costs and periods when the property is empty should also be factored into your calculations.
What is a portfolio landlord?
Essentially, a portfolio landlord is someone who owns 4 buy to let properties or more. The affordability assessment for portfolio landlords is more difficult with lenders because they will assess your portfolio as well as the property you are looking to mortgage.
What are the interest rates for buy to let mortgages?
There are many interest rates for buy to let mortgages, such as fixed rates, tracker rates and discounted variable rates.
Please note that some buy to let mortgages are not regulated by the Financial Conduct Authority.
