Buy-to-let mortgages
Whether you’re taking your first step into buy-to-let or growing your rental property portfolio, we’re here to make the mortgage side simple. We’ll explain your options clearly, compare the whole market for you, and find the most competitive mortgage deal for your goals. Because when you’re investing your money, you deserve advice that feels personal, honest and genuinely helpful.
Call our mortgage experts for free advice today on 033 0088 4407
We work with over 90 Mortgage Lenders
We are YesCanDo Money, expert buy-to-let mortgage brokers
When you speak to YesCanDo Money, you get more than a mortgage broker. You get a team that genuinely takes the time to understand your circumstances, income, plans and the type of investment you want to make. We’ll search the whole market (including specialist mortgage providers) to find the right mortgage terms, interest rate and structure for your rental property.
And the good news? You’ll pay NO FEE when you remortgage your buy-to-let with us. That’s expert support, a stress-free application process, and someone chasing the bank and solicitor on your behalf, all without paying a penny for our service.
You can WhatsApp us or call 033 0088 4407 for friendly, expert, highly rated advice.
How do buy-to-let mortgages work?
A buy-to-let mortgage is designed for people who want to purchase a property specifically to rent it out. While they seem similar to a residential mortgage on the surface, there are some key differences.
The amount you can borrow is largely driven by expected rental income, not just your personal earnings. Lenders want to see that the rent will comfortably cover the monthly mortgage repayments, usually by 125–145%, depending on the lender and whether you’re a basic or higher-rate taxpayer.
Buy-to-let mortgages are also classed as non-regulated, which means the rules are different from consumer residential mortgages (except in certain cases, such as a consumer buy-to-let). Lenders follow the Prudential Regulation Authority’s criteria, which tend to be more focused on the investment risk and rental yield.
How much deposit is needed for a buy-to-let mortgage?
You will usually need a minimum 20–25% deposit for a buy-to-let mortgage. But some specialist lenders ask for more, depending on the property value, your expected rental yield, your income, experience as a landlord and the type of property (e.g. flats above shops, HMOs, newbuilds).
Generally, the bigger your deposit, the wider range of lenders and the better mortgage rates you can choose from.
Types of buy-to-let mortgages
There’s no such thing as the ‘best’ buy-to-let mortgage; it’s about finding the one that suits your strategy, cash flow and goals.
Here are the main options:
Fixed-rate buy-to-let mortgages
With a fixed-rate mortgage, your interest rate stays the same for an agreed period – anything from two to fifteen years. This means predictable monthly mortgage repayments, which many landlords prefer for stability. Once your fixed period ends, you move onto the lender’s standard variable rate unless you remortgage or re-fix your deal.
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Interest-only buy-to-let mortgages
Interest-only mortgages are the most common choice for landlords. You only pay the interest each month, not the loan itself. This keeps the costs low and improves your monthly rental profit. At the end of the mortgage term, you repay the original loan by selling the property, savings, or using another repayment strategy.
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First-time buyer buy-to-let mortgages
If you’ve never owned your own home, getting a buy-to-let mortgage is possible, but lenders are more cautious. You’ll need strong evidence of income and a solid deposit.
The upside? You won’t pay the usual 3% stamp duty surcharge that applies to second homes and investment properties. The downside is that you also won’t qualify for first-time buyer stamp duty relief because you won’t be living in the property.
If this is the route you’re considering, we’ll guide you through the criteria and match you with the right lender.
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What are the requirements for a buy-to-let mortgage?
Every lender has its own criteria, but generally, they require the following:
- UK resident, aged 21 or over
- A minimum income of around £25,000, but this varies
- A clear credit history
- A deposit of at least 20–25%
- A property that fits the lender’s rules (e.g., construction type, location, condition, property value, etc.)
Some lenders also check whether you’ve previously lived in or owned a residential property, as well as the number of properties you already have in your portfolio.
How much can you borrow on a buy-to-let mortgage?
Calculating your repayments
Most lenders base the loan amount on expected rental income rather than just your salary. They use a formula called the Interest Coverage Ratio (ICR) to assess whether the rent will comfortably cover the mortgage interest.
For example, if your mortgage interest payments are £500 per month, the lender may want the rent to be at least £625–£725 per month, depending on tax band and stress testing.
Use our rental yield calculator to get an idea.
Calculating your repayments
Repayments depend on the mortgage type. With:
Interest-only
…you will only pay the interest, which keeps monthly payments low, with one lump sum due at the end.
Repayment
…you’ll repay both the interest and the loan, meaning higher monthly costs but no lump sum at the end.
If you’re not sure what you need, we’ll help you compare these options, taking into account your expected rental income, other income, cash flow situation and long-term exit plan.
Our buy-to-let mortgage application process
1. Getting to know you
We’ll have a friendly discussion to learn about your plans, circumstances, rental goals, and the types of properties you’re looking at.
2. We'll search the market
Once we know your goals, we’ll compare mortgage providers, terms, fees and rates and present you with your best options.
3. We'll prepare your mortgage application
You send us the necessary documents, and we’ll do the rest. No forms, no headaches – just leave it to us.
4. We'll liaise with your chosen lender
We communicate with the bank, valuation teams and your solicitor to keep things moving, so you don’t have to chase people around.
5. You get your mortgage offer
Once everything is approved, the lender will issue your formal mortgage offer. Your solicitor will complete the purchase and handle the legal side.
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Frequently asked questions about buy-to-let mortgages
Does the mortgage broker need to approve the buy-to-let property?
As your broker, your chosen property is not up to us to approve – but your lender will. They’ll want to ensure the property is suitable security for the loan. As your mortgage broker, we’ll tell you if something looks like it might cause issues (for example, non-standard construction or very low rental yield).
Are buy-to-let mortgages more expensive?
Buy-to-let mortgages usually come with:
higher interest rates
larger minimum deposits
and slightly higher fees
However, because most landlords choose interest-only, monthly costs are often still lower than a repayment mortgage.
Can I have two mortgages?
Yes – you can hold multiple mortgages, including residential and buy-to-let. Lenders will simply check that you can afford them and that everything aligns with their criteria.
Can I live in my buy-to-let property?
No. If the mortgage is a buy-to-let, living there would breach your agreement. If you want to move in, you’ll need to switch to a residential mortgage (which we can help with). If you own the property outright with no mortgage, you can live there freely.
Speak to our buy-to-let mortgage brokers today
Get in touch with our friendly team today for fee-free advice and broker services. Call 033 0088 4407 or send us a message to arrange a callback.
