First-time buyer buy-to-let mortgages

by Aaron Strutt

Jun 20 2014

Even though it is harder to get a buy-to-let mortgage if you are a first-time buyer, it is still possible.

Trinity Financial has access to a limited amount of lenders offering buy-to-let mortgages to borrowers who do not own a residential property outright or do not currently have a residential mortgage.

Over the last year more mortgage lenders have tightened their buy-to-let acceptance criteria and pulled back from offering first-time buyer investment mortgages.

The lenders use different methods to work out how much they will lend to buy-to-let landlords and they will look at personal income and the amount of rent generated from the property.

For applicants currently living in a rented accommodation, it will be at underwriter’s discretion if they add the monthly rent paid towards your financial commitments on the affordability calculation. One applicant must also have a minimum annual income of £25,000

If you are a first-time buyer looking for an investment property, call Trinity on 020 7016 0790.