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Mortgage Hotline - Call Us 0117 313 7780

Buy To Let Mortgages For First Time Buyers

Buy To Let Mortgage Deals Of The Month

RBS Mortgages Logo

FairMortgages.co.uk has partnered with Royal Bank Of Scotland to bring you some of the best mortgage rates in the market, which is why they say 'YES' to a mortgage every 60 seconds*. It takes just a few minutes to find out if they can help:

Call RBS Buy To Let team: FREE on 0800 096 7962

OPEN 7 DAYS A WEEK
Monday to Friday:  8am to 8pm 
Saturday & Sunday:  9am to 4pm

Hsbc 2-logo 

Call FREE 0808 271 8482

Top rates for those looking to get a better deal or borrow more:

  • FIXED RATES from 1.69% (4.5% APRC)
  • FAST DECISION
  • LINES OPEN: 7 days a week 8am to 10pm

Call HSBC Buy To Let team FREE on 0808 271 8482 to find out how much you could borrow

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.38%
Rate type: Fixed Mar-2020
Monthly cost: £486.56 per month
Max LTV: 60%
Product fee: £2213.00
Overall cost for comparison: 4.4% APRC
Virgin Money logo 1.38% Fixed Mar-2020 4.4% APRC 60% £2213.00 £486.56 per month get quotes Call direct0330 057 1595
Initial rate: 1.47%
Rate type: Fixed Mar-2020
Monthly cost: £490.77 per month
Max LTV: 60%
Product fee: £2213.00
Overall cost for comparison: 4.4% APRC
Virgin Money logo 1.47% Fixed Mar-2020 4.4% APRC 60% £2213.00 £490.77 per month get quotes Call direct0330 057 1595
Initial rate: 1.48%
Rate type: Fixed Mar-2020
Monthly cost: £486.42 per month
Max LTV: 60%
Product fee: £1213.00
Overall cost for comparison: 4.3% APRC
Virgin Money logo 1.48% Fixed Mar-2020 4.3% APRC 60% £1213.00 £486.42 per month get quotes Call direct0330 057 1595
Initial rate: 1.54%
Rate type: Tracker Mar-2020
Monthly cost: £489.21 per month
Max LTV: 60%
Product fee: £1213.00
Overall cost for comparison: 4.3% APRC
Virgin Money logo 1.54% Tracker Mar-2020 4.3% APRC 60% £1213.00 £489.21 per month get quotes Call direct0330 057 1595
Initial rate: 1.59%
Rate type: Fixed Mar-2020
Monthly cost: £491.54 per month
Max LTV: 60%
Product fee: £1213.00
Overall cost for comparison: 4.3% APRC
Virgin Money logo 1.59% Fixed Mar-2020 4.3% APRC 60% £1213.00 £491.54 per month get quotes Call direct0330 057 1595
Initial rate: 1.69%
Rate type: Fixed Mar-2021
Monthly cost: £501.14 per month
Max LTV: 60%
Product fee: £2213.00
Overall cost for comparison: 4.2% APRC
Virgin Money logo 1.69% Fixed Mar-2021 4.2% APRC 60% £2213.00 £501.14 per month get quotes Call direct0330 057 1595
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.20 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 4.4% APRC
NatWest logo 1.88% Tracker Feb-2020 4.4% APRC 60% £2273.00 £510.20 per month get quotes Call direct0800 056 8572
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.35 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 3.8% APRC
Royal Bank Of Scotland logo 1.88% Tracker Feb-2020 3.8% APRC 60% £2273.00 £510.35 per month get quotes Call direct0800 096 7962
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.35 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 4% APRC
Royal Bank Of Scotland logo 1.88% Tracker Feb-2020 4% APRC 60% £2273.00 £510.35 per month get quotes Call direct0800 096 7962
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.20 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 4.2% APRC
NatWest logo 1.88% Tracker Feb-2020 4.2% APRC 60% £2273.00 £510.20 per month get quotes Call direct0800 056 8572
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Buy to Let Mortgages for First Time Buyers

Our First Time Buyer Buy to Let Mortgage Service

Looking to purchase a property for buy to let and need finance. Let our friendly mortgage team take the strain - we offer:

  • A whole of market service - we work with over 60 UK lenders
  • Access to leading market rates for first time buyers
  • Access to exclusive loan deals not available on the high street
  • Fast turnaround - speak to us today if you need to move quickly
  • Flexible lenders - we have lenders who will take into account previous defaults and missed payments

To investigate your 1st time buyer buy to let mortgage options call our mortgage team on 0117 313 7780 or fill in our call back form.

The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

As your mortgage is such an important transaction, good advice is imperative.

buy to let mortgages for first time buyers

If you want to buy a property with the intention of renting it out, you will require a specialist mortgage, known as a buy to let mortgage.

Buying a property to rent out can offer the opportunity to benefit from capital growth on the value of the property, as well as income from rent payments. However, getting a good deal as a first time buyer in the buy to let mortgage market can be challenging.

Getting a buy to let mortgage as a first time buyer

Lending criteria has become more stringent since the beginning of 2017, with banks and building societies now obliged to look closely at your spending and ensure that you are able to meet repayments even after a ‘stress test’ on your projected future finances.

One of the key areas of difference between a buy to let mortgage and a mortgage on your home is how affordability is assessed. The lenders' stress test will require you to be able to afford mortgage repayments even in the event that interest increases to 5.5%.

Because buy to let mortgages are often dependent on rental income to help fund repayments, lenders may consider you even more of a risk and charge higher interest rates or even refuse finance. 

One of the main things a buy to let mortgage lender will consider is how much rent you are likely to be able to charge on the property you intend to purchase. As well as proving your income, as is required when applying for a first time buyer residential mortgage, a buy to let mortgage lender will expect you to demonstrate that the market rate for rental income on the property you want to buy is at least 145% of the mortgage repayments.

Find the right buy to let mortgage

If you’ve never owned a buy to let property before it can be tricky to know where to start. However many lenders are now offering more attractive deals to first time landlords looking to buy to let. Some lenders are offering buy to let mortgages for first time buyers at up to 80% loan to value (LTV), which could pave the way for those who want to get a mortgage for an investment property but have not held one before.

Use our buy to let mortgage calculator, below, to compare some of the latest rates from top lenders and see if there's one that suits your needs.

If you need specialist advice on getting a first time buyer buy to let mortgage, give us a call on 0117 313 7780 and speak to our dedicated mortgage team, who will be able to help you locate the best deal for your circumstances.

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