What are the essential steps and resources needed for a complete beginner to secure their first buy-to-let mortgage for a portfolio, including deposit requirements and common lender criteria for new landlords?
Quick Answer
Beginners securing their first buy-to-let mortgage need a minimum 25% deposit, typically 75% Loan-to-Value, and must meet lender-specific stress tests like 125% rental coverage at a 5.5% notional rate. Specialist mortgage brokers are crucial to navigating these requirements and identifying suitable lenders.
About This Topic
New landlords seeking a BTL mortgage need a 25% deposit, meet 125% rental stress tests at 5.5% notional rates, and a £25k personal income. A specialist mortgage broker is crucial, especially with the 5% SDLT surcharge for additional dwellings from April 2025.
This question is part of our Financing & Mortgages category, providing expert guidance on UK property investment.
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