What is a First Buy to Let Mortgage UK?
A first buy to let mortgage UK is a specialist mortgage product designed for individuals who want to purchase a property to rent out, even if they don't currently own their own home. Unlike traditional residential mortgages, a buy to let mortgage first time buyer option allows you to enter the property investment market as a landlord from day one.
How Does a First Time Buy to Let Mortgage UK Work?
When applying for a first time buy to let mortgage UK, lenders assess your application differently than a standard residential mortgage. Key factors include:
- Rental income potential: Lenders typically require the expected rent to cover 125-145% of the mortgage payment
- Deposit requirements: Most beginner buy to let mortgage UK products require a 20-25% deposit
- Credit history: A good credit score improves your chances of approval
- Affordability: Your personal income may also be assessed alongside rental projections
First Buy to Let Mortgage Rates UK in 2026
As of 2026, first buy to let mortgage rates UK typically range between 4% and 6%, depending on your deposit size, credit profile, and the lender. Rates for first-time landlords may be slightly higher than for experienced investors, but competitive deals are still available.
Note: Interest rates change frequently. The figures mentioned are indicative and based on market conditions at the time of writing. Always seek current quotes for accurate rates.
Eligibility for First Buy to Let Mortgage UK
To qualify for a beginner buy to let mortgage UK, you'll typically need to meet these requirements:
- Be at least 21-25 years old (varies by lender)
- Have a minimum personal income of £25,000 per year
- Provide a deposit of at least 20-25% of the property value
- Demonstrate the property can generate sufficient rental income
- Have a clean credit history with no recent defaults or CCJs
Pros and Cons of First Time Buy to Let Mortgage UK
Advantages
- Build a property portfolio from day one
- Generate passive rental income
- Potential for property value appreciation
- Tax-deductible mortgage interest (limited)
- Diversify your investment portfolio
Considerations
- Higher deposit requirements than residential
- Landlord responsibilities and costs
- Void periods with no rental income
- Interest rate fluctuations impact profits
- Stamp duty surcharge on second properties
Frequently Asked Questions About First Buy to Let Mortgage UK
Can I get a buy to let mortgage as a first time buyer in UK?
Yes, many lenders now offer first buy to let mortgage UK products specifically for people who don't yet own a home. You'll typically need a larger deposit and must meet income requirements.
What deposit do I need for a first time buy to let mortgage UK?
Most lenders require a minimum 20-25% deposit for a beginner buy to let mortgage UK. Some specialist lenders may accept lower deposits, but rates will typically be higher.
What are the current first buy to let mortgage rates UK?
In 2026, first buy to let mortgage rates UK typically range from 4% to 6%. Your actual rate will depend on your deposit, credit score, and the lender you choose.
How much rental income do I need for a buy to let mortgage?
Lenders typically require the expected rental income to cover 125-145% of your monthly mortgage payment. This is called the Interest Coverage Ratio (ICR) and ensures you can afford the mortgage even with expenses.
Content reviewed by Find Adviser mortgage experts with 10+ years experience in the UK property market. Information accurate as of January 2026. For personalised advice on your first buy to let mortgage UK, request a free quote above.