Buy-to-Let Mortgage for First-Time Buyers

First-Time Buyer Buy-to-Let Mortgage

A buy-to-let mortgage specifically designed with first-time buyers in mind, taking into account the challenges they may face in investing in residential property.

Loan amounts from £150k to £750k – more can be considered for those in a strong financial position
LTV: 75%
Required income of only £30k
Can be considered for complex properties, including HMO, MUFB or holiday lets
First-time buyers considered who do not own their main residence
Interest rates: variable & fixed rates available
Offshore borrowers and foreign nationals welcome
Charge type: 1st charge
Term: 3 years, no early redemption charge after year 2
Completion time: from 10 days
Location of property: England, Wales

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First-time buy-to-let mortgage from a seasoned lender

Our buy-let-mortgages are available to first-time buyers as well as seasoned portfolio investors. Buy-to-let mortgages for first-time buyers may be hard to come by on the high street due to perceived risk or being seen as complicated investments. But, we’re happy to work with new entrants to the landlord market, as well as experienced investors. So long as your property investment plan is sound, and you have a solid exit strategy at the ready, we should be able to support you in becoming a landlord in England or Wales.

Calculate your loan amount

Easy-to-use and super quick. Try our online buy-to-let mortgage calculator and find out in a few seconds how much you or your client could borrow. Just put in a few basic numbers and get your initial quote. Feel free to discuss your quote with us in detail.

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5 simple steps to your Buy-to-Let mortgage for first-time buyers

short-term buy-to-let mortgage

Step 1: Loan Enquiry & Indicative Terms

First-time buyers and experienced landlords alike start their applications in the same way. You will need to send an initial enquiry through. We can be reached over the phone, online, or via email and we respond to all enquiries within 4 hours. You can also reach us through an intermediary such as a mortgage broker. One of our underwriters will be in touch to gather initial details on your situation, provide an indicative tier, and go over your loan size.

interest only buy-to-let mortgage

Step 2: Underwrite & Issue DIP

As we move through the process, we will attain some key documentation from you as we finalise the underwrite. Then, we will issue a Decision in Principle (DIP) which will be the credit approved term. This will all be verified by our Credit Committee, and DIPs are usually issued within 24 hours.

interest only buy-to-let mortgage

Step 3: Valuation

Once the initial valuation and admin fees are paid, and the DIP is signed, we can get the property valued. Your assigned underwriter will organise this, fitting your situation in with our panel of trusted valuers. The valuation itself should be organised withing 24 hours of fees clearing.

short-term mortgage for buy-to-let

Step 4: Legal Documentation

Following the valuation, the solicitors will get involved to complete their due diligence. We only work with solicitors we trust to ensure your investment is handled at pace. Throughout this process, you will be updated along every step of the way.

interest only buy-to-let mortgage

Step 5: Loan Drawn Down

When everything is ready, you will be provided with your first-time buyer buy to let mortgage. You can then use the capital to invest in your targeted residential asset. In some instances, this funding can be delivered within a week of initial enquiries.

Try Buy-To-Let Calculator

Contact Us

Speak to one of our underwiters or BDMs on the phone, via chat or email about your case, however complex it might be. We will try our best to say yes to you, instead of finding a reason to say no.

Chat to our Buy-To-Let Team:

Email: info@mfsbtl.com

Phone: +44 (0)20 7060 5678

Chat to our Business Development Managers:

Email: brokers@mfsuk.com

Phone: +44 (0)20 7060 1234

First-Time Buyer Buy-To-Let Mortgage

All you need to know:

Are there any first-time landlords you won’t work with?Do you have any age limits in place?Do you place limits on property types?Will the rates differ for first-time buyers?Are there other products available for first-time buyers?

Are there any first-time landlords you won’t work with?

No, our buy-to-let mortgages for first-time buyers are available to individual investors, via corporate structures such as an SPV, offshore borrowers, or those who do not own any property. We do not follow a tick box lending criteria, every one of the applications we receive is assessed on its individual merit. So long as your details fit in with our parameters, we should be able to support your buy-to-let strategy.

Do you have any age limits in place?

First-timer buyers may be relatively young compared to more experienced property investors. However, we do not limit our first-time buy-to-let mortgages to older landlords. Our buy-to-let mortgages for first-time buyers are available for those aged between 21 and 75+.

Do you place limits on the types of properties first-time buyers can invest in?

No, our buy-to-let mortgages for first-time buyers can be used for a broad range of property types. This includes relatively straight forward investments, such as student accommodation or houses, through to complex assets such as MUFBs to 30 units or short-term lets. However, we do require the use of a specialist letting agent.

Will the rates differ between first-time buyer buy-to-let mortgages and other mortgages?

Across our BTL mortgages, there are 4 applicable tiers. Tier 1 loans are for the most straightforward cases, whereas tier 4 mortgages are for particularly complex deals. To reflect the risk associated with lending to first-time buyers, we automatically place these new entrants to the market into our tier 3 loans at a minimum. Tier 3 mortgages are reserved for complex borrowers or properties, including: large structures, expats, foreign nationals, overseas companies and more.

Are buy-to-let mortgages the only products you have available for first-time buyers?

No, our bridging products can also be used by first-time buyers. This includes among others our residential bridging loans, auction bridging loans, and permitted and light development finance.