Cashback Remortgages · Buy-to-let
A First-Time Landlord's Mortgage Guide
Becoming a landlord introduces different mortgage criteria from a residential purchase. Lenders assess the rent, the property and often whether you already own your home.
What to know
Buy-to-let usually needs a 25%+ deposit and is assessed on a rental stress test. Some lenders prefer applicants who already own their home, and most BTL is not FCA-regulated.
First-time landlords may have a slightly narrower lender choice.
Budget realistically
Beyond the mortgage, allow for compliance, insurance, repairs, management, voids and tax. Passing the stress test is not a profit calculation. Get appropriate advice.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.