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Find out the best way to get yourself set up as a buy-to-let landlord. Mortgages are what we do. Trust us to get you set up, save you money, and get things moving quickly so you can make the most from your investment.
What is a buy-to-let mortgage?
A buy-to-let mortgage is a type of mortgage designed specifically for those who want to purchase a property to rent out, rather than live in themselves. Whether you're an experienced landlord looking to expand your property portfolio or a first-time investor, a buy-to-let mortgage can help you finance the purchase of a rental property. Unlike standard residential mortgages, buy-to-let mortgages are assessed differently, with lenders often focusing more on the potential rental income from the property than on your personal income or affordability alone.
The amount you can borrow for a buy-to-let mortgage is related to the expected rental yield, not the borrower’s income.
Typically, you’ll need 25% of the property’s value for your deposit. Fees are often higher, too. But this depends on the lender.
There are different ways to repay a buy-to-let mortgage – from interest only, repayment, or part and part.
Who is Eligible for a Buy-to-Let Mortgage?
Working with a specialist mortgage broker like Mortgage Matters can make the process easier by helping you find suitable lenders and guiding you through the application process and documents you need for your mortgage, ensuring you get the best possible deal.
You must be at least 21 years old, although some lenders may set the minimum age at 25.
You usually need to already own your own residential property, either outright or with a mortgage.
Many lenders have a minimum annual income for buy-to-let mortgages, which is often around £25,000. This ensures you can cover potential vacancy periods or maintenance costs.
A good credit score and clean credit history are usually necessary. Lenders will assess your credit file to determine your reliability as a borrower.
Lenders normally require that the expected rental income covers at least 125% of the mortgage repayments.
The property you intend to let must be suitable for rental purposes, which means it should be in good condition, meet safety standards, and be located in an area with rental demand.
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FAQs for Buy-to-Let Mortgages
The amount you can borrow is largely based on the expected rental income of the property, rather than just your personal income. Most lenders require the rental income to be at least 125% of the monthly mortgage payment. Your credit score, personal income, and existing financial commitments will also be considered, particularly if rental income falls short.
To get a buy-to-let mortgage, you'll need to apply through a lender or broker. The process involves assessing your finances and rental income potential, choosing a suitable property that meets lender requirements, obtaining an Agreement in Principle (AIP) to understand how much you can borrow, submitting a formal application, and having the property valued by the lender. Mortgage Matters can manage this entire process for you, helping you secure the best mortgage deal available.
Normally, you’ll need a minimum deposit of 25% of the property's value, although some lenders may accept 20% in certain cases. Keep in mind that a higher deposit can help secure better interest rates. You should also factor upfront costs, such as valuation fees, legal fees, and Stamp Duty, into your budget.
Approval depends on several factors, including your credit history, income, rental projections, and the property type. Whilst they can be more complex than standard residential mortgages, having professional support from a broker can significantly improve your chances. Mortgage Matters specialises in helping clients with a range of backgrounds secure approval, even in more challenging cases.
In 2025, the typical costs associated with a buy-to-let mortgage include the deposit (usually 25% or more), mortgage arrangement fees, valuation fees, solicitor or conveyancer fees, Stamp Duty, letting agent fees (if you’re using one), insurance, and maintenance and compliance costs such as gas safety checks, EPC, and repairs. Mortgage Matters provides a full breakdown of all potential costs upfront, and since we operate on a no-sale, no-fee basis, you won’t face any broker charges unless your mortgage completes.