Question: How Can I Get A Buy To Let Without A Deposit?

Can I get a buy to let mortgage with no deposit?

Yes, it is possible to get a mortgage without a deposit, but getting a 100 mortgage, UK wide, is now very rare.

The only 100% mortgages currently available are guarantor mortgages, which usually require a family member who owns their own home to be named on your mortgage, too..

Do you need a deposit for buy to let?

The minimum deposit for a buy-to-let mortgage is usually 25% of the property’s value (although it can vary between 20-40%). Most BTL mortgages are interest-only. This means you pay the interest each month, but not the capital amount. At the end of the mortgage term, you repay the original loan in full.

What happens if you don’t have a deposit for a house?

Can you get a home loan with no deposit? In Australia, you may be able to get approved for a loan of 100% of the purchase price of a home through some lenders if you can meet certain conditions, such as having a guarantor on the loan. This is usually determined on a case-by-case basis by the lender.

What income do I need for a buy to let mortgage?

Lenders will typically need the rental income to be at least 125% of the monthly mortgage payments (on an interest only basis), or even up to 145%, depending on a lender’s criteria. Most lenders will also require you to be earning an income yourself. Try the buy to let calculator to see how much you could borrow.

Can I live in my buy to let property?

The short answer is yes. You can live in your investment property. But there are tax implications that you need to take into account. If you want to actually rent your investment property to yourself only then read this post.