First Time Buy
to let mortgage
First Time Buy to let mortgage
Meet our expert team delivering friendly mortgage advice to help hundreds of people secure homeownership with confidence.
What Is A First Time Buyer Buy To Let Mortgage
A first-time buyer buy-to-let mortgage is simply a buy-to-let mortgage (a mortgage arrangement designed for people that want to purchase a property with the express intent of renting it out) that’s been taken out by a first-time buyer.
It works in the same way as any other BTL mortgage, although they may come with higher interest rates attached than those offered to more experienced landlords.
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Things to Consider
Benefits
Flexible Funding for Property Work
Refurbishment finance allows you to fund a range of renovation work, from lighter cosmetic upgrades to significant structural improvements, giving you flexibility in how you enhance a property.
Short‑Term Solution Between Purchase and Exit
This type of finance is designed to bridge the gap between purchasing a property and moving to longer‑term funding (such as a buy‑to‑let mortgage or property sale). It helps you cover both the acquisition and renovation costs in one short‑term arrangement.
Potential to Increase Property Value
Well‑planned refurbishment can significantly improve a property’s market value, enhancing rental income or sale price once the work is complete.
Considerations
Short‑Term Loan Structure
Refurbishment finance is a short‑term product. You need to be clear on how and when the loan will be repaid, usually through refinancing into a conventional mortgage or selling the property.
Clear Exit Strategy Required
Lenders will want to see a detailed exit plan, how you intend to settle the loan once the refurbishment period ends. Without a credible strategy, it can be harder to secure finance.
Preparation and Planning Needed
You’ll need to provide a detailed breakdown of renovation costs, a realistic timescale and the projected value of the property once works are complete. This takes time and careful planning.
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Why Choose UKMC
Simple, Straightforward Approach
Simple, Straightforward Approach
Thousands of Products
Thousands of Products
Dedicated Case Manager
Dedicated Case Manager
Free Property Insights and Reports
Free Property Insights and Reports With our online portal, you can quickly access detailed reports about your chosen property, making it easier to make informed decisions. Reports include:
- Broadband speeds – Check connectivity before moving in.
- Energy efficiency rating – Know how much your bills might be.
- Local property trends – See prices in your postcode and compare similar homes.
- Area insights – Find out about crime rates, common professions, and property types nearby.
- Environmental info – Flood risk, geology, radon, and nearby infrastructure projects.
Plus, our handy home-buying checklist keeps you organised at every step.
Flexible Appointment Options
Flexible Appointment Options Life can be hectic, and we get it, especially if you’re juggling a 9–5. That’s why we offer late-night appointments five days a week. We’ll work around your schedule, so getting advice is easy and stress-free.
How to Apply
PICK A SUITABLE PROPERTY
Purchasing a buy-to-let as a first-time buyer is similar to picking a property for yourself, except that you need to consider your ideal tenant’s needs instead of your own. From the location to the layout, you’ll need to pick a suitable property.
DO YOUR SUMS
You’ll also need to ensure you’ve done your sums and the property is a viable investment if you want to be taken seriously be lenders and generate a significant amount of extra income. Reaching out to a qualified accountant and broker can help with this part of the process.
CONTACT AN ADVISOR
Once you’ve found the right property and are confident that it’ll make a good investment, we always recommend contacting an experienced mortgage advisor, like UKMC. Our team can help you to fill out the relevant paperwork and explore all your buy-to-let first-time buyer mortgage options to secure the right deal for you.
what our clients saying about us
At the end of my tether I was introduced to Sam from UKMC.
Previous advisors had failed to find me any deals worth looking at and I was feeling most despondent. Destined to continue paying waaaay too much for my mortgage.
Creative Director, TUX Creative Co
At the end of my tether I was introduced to Sam from UKMC.
Previous advisors had failed to find me any deals worth looking at and I was feeling most despondent. Destined to continue paying waaaay too much for my mortgage.
Independent Art Director
At the end of my tether I was introduced to Sam from UKMC.
Previous advisors had failed to find me any deals worth looking at and I was feeling most despondent. Destined to continue paying waaaay too much for my mortgage.
Creative Developer, Studio Gusto
Frequently asked questions
Got questions? Let’s answer them
Can a first-time buyer get a Buy-to-Let mortgage?
Yes, first-time buyers can get a Buy-to-Let mortgage, but it’s usually more challenging than buying a home to live in. Lenders often have stricter criteria for first-time landlords.
How big of a deposit do I need?
First-time Buy-to-Let mortgages typically require a larger deposit, often around 25% or more of the property price. Some lenders may ask for even higher deposits depending on your circumstances.
How do lenders assess affordability for Buy-to-Let?
Affordability is mainly based on the projected rental income. The expected rent usually needs to cover the mortgage payments, often by at least 125–145%, and lenders may also consider your personal income.
Will I get first-time buyer stamp duty relief?
No. Stamp duty relief for first-time buyers only applies if you’re buying a property to live in. For a Buy-to-Let property, the standard higher stamp duty rates for investment properties will apply.
What other costs should I budget for as a first-time landlord?
In addition to the deposit and mortgage payments, budget for solicitor fees, surveys, landlord insurance, letting agent costs, maintenance, and periods when the property might be empty between tenants.
