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Mortgage & Equity Release - Call Us 0117 313 7780

What is your mortgage for?

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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.4%
Rate type: Fixed Feb-2023
Monthly cost: £485.11 per month
Max LTV: 60%
Product fee: £1990.00
Overall cost for comparison: 4.3% APRC
Halifax logo 1.4% Fixed Feb-2023 4.3% APRC 60% £1990.00 £485.11 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.42%
Rate type: Fixed Nov-2022
Monthly cost: £486.03 per month
Max LTV: 60%
Product fee: £2015.00
Overall cost for comparison: 4.2% APRC
Post Office logo 1.42% Fixed Nov-2022 4.2% APRC 60% £2015.00 £486.03 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.7%
Rate type: Fixed Feb-2026
Monthly cost: £499.15 per month
Max LTV: 60%
Product fee: £1990.00
Overall cost for comparison: 3.8% APRC
Halifax logo 1.7% Fixed Feb-2026 3.8% APRC 60% £1990.00 £499.15 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.81%
Rate type: Fixed Feb-2023
Monthly cost: £496.93 per month
Max LTV: 60%
Product fee: £495.00
Overall cost for comparison: 4.2% APRC
Halifax logo 1.81% Fixed Feb-2023 4.2% APRC 60% £495.00 £496.93 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.85%
Rate type: Fixed Nov-2025
Monthly cost: £506.27 per month
Max LTV: 60%
Product fee: £2015.00
Overall cost for comparison: 3.6% APRC
Post Office logo 1.85% Fixed Nov-2025 3.6% APRC 60% £2015.00 £506.27 per month get quotes Call direct0808 178 6813 More details
Initial rate: 2.05%
Rate type: Fixed Dec-2022
Monthly cost: £513.46 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
Royal Bank Of Scotland logo 2.05% Fixed Dec-2022 3.5% APRC 60% £1273.00 £513.46 per month get quotes Call direct0800 068 7706 More details
Initial rate: 2.05%
Rate type: Fixed Dec-2022
Monthly cost: £513.31 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.9% APRC
NatWest logo 2.05% Fixed Dec-2022 3.9% APRC 60% £1273.00 £513.31 per month get quotes Call direct0800 068 8567 More details
Initial rate: 2.13%
Rate type: Fixed Feb-2026
Monthly cost: £512.06 per month
Max LTV: 60%
Product fee: £495.00
Overall cost for comparison: 3.8% APRC
Halifax logo 2.13% Fixed Feb-2026 3.8% APRC 60% £495.00 £512.06 per month get quotes Call direct0117 313 7780 More details
Initial rate: 2.75%
Rate type: Fixed Dec-2025
Monthly cost: £547.72 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.4% APRC
Royal Bank Of Scotland logo 2.75% Fixed Dec-2025 3.4% APRC 60% £1273.00 £547.72 per month get quotes Call direct0800 068 7706 More details
Initial rate: 2.75%
Rate type: Fixed Dec-2025
Monthly cost: £547.56 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.7% APRC
NatWest logo 2.75% Fixed Dec-2025 3.7% APRC 60% £1273.00 £547.56 per month get quotes Call direct0800 068 8567 More details
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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 Mortgage For First Time Landlords

Buy To Let Mortgage For First Time Landlords

Why use Fair Mortgages

Fair Mortgages can provide a first class service, if you are looking for a buy to let mortgage broker service dealing with lenders that lend to first time landlords.

Special features of what our broker service offers include:

  • Rental Income Requirements - What lenders now require on rental income - we can help you secure your first buy to let mortgage and get you through the lender criteria maze
  • Whole of Market Buy to Let Broker - We deal with most UK buy to let mortgage lenders that are prepared to provide mortgages to fist time landlords including private banks, specialist lenders and wealth managers
  • Buy to Let Rates – Access to leading buy to let market mortgage rates. Use our mortgage calculator to get a feel for what firs time buyer deals are available and what repayments on your mortgage you could expect.
  • Exclusives - Access to exclusive buy to let mortgage from individual lenders not available on the high street
  • Our BTL Expertise – Expert help for first time landlords
  • Credit Issues? - We have lenders who will take into account previous defaults and missed mortgage payments if applicable

To investigate your buy to let mortgage options, call our specialist team on 0117 313 7780 or fill in our call back form.

If you want a buy to let mortgage and become a landlord, but you do not know where to start, it is advisable to contact a specialist broker to get the best financial solution for your set of circumstances.

Buy-to-let-mortgages-for-first-time-landlords

Tax, Landlords and Limited companies

Regulation introduced in 2017 meant that landlords are no longer able to deduct their entire financial expenses from their properties when calculating their profits on their end of year self-assessment, as they had done previously.

This meant that many landlords saw a significant increase in their tax bills – which many were obviously keen to avoid.

As the rules do not affect limited companies (as currently only their profits are subject to tax), a lot of landlords chose to change gears and set up a limited company. Through this limited company, they are able to circumvent the tax rules – however, there are

associated costs, so it’s important to familiarise yourself with these beforehand to make sure it’s the right course of action for you.

Prudential Regulation Authority’s Regulations

Following changes which were introduced in 2017, first time landlords have had more of a challenge securing lending through a traditional lender.

The Bank of England’s Prudential Regulatory Authority (PRA) implemented changes to the regulations that govern the buy to let mortgage market, which altered the way traditional lenders consider buy to let applications.

That’s why going via a broker can be the best course of action – as a good broker will have access to banks beyond the high street.  

What are banks looking for?

When assessing a mortgage application from a first time landlord, there are various things that a traditional lender will consider. These include: 

Deposit - Unlike residential mortgages, which can be secured with a deposit as low as 5%, buy to let mortgages usually require a deposit of 25% of the value of the property. It is possible to get a buy to let mortgage with a lower deposit, but this is usually through a private lender.

Rental Coverage Ratio - Due to the 2017 RPA changes, traditional lenders will typically require landlords to have a rental coverage ratio of at least 145% for standard buy to let properties and up to 170% for houses in multiple occupation (HMO). Traditional lenders will only accept rental coverage ratios based on a professional valuation from a surveyor.

Income Stress Test - In order to comply with the PRA regulations, traditional lenders will implement a strict income stress test. For first time landlords to satisfy the traditional lenders’ income stress test, they have to be able to show that they can afford mortgage repayments in the event that the interest rate increases to 5.5%.

Next Steps

If you are a first time landlord and you need a buy to let mortgage, you may benefit from the assistance of a authorised and regulated professional broker.

Fair Mortgages can guide you through the complex process of the buy to let mortgage market and can help you avoid the stringent criteria of traditional lenders to find you the best financial solution for your set of circumstances. Fair Mortgages can find the ideal buy to let mortgage for you through professional links with traditional lenders, private banks, specialist lenders and wealth managers.

Fair Mortgages may be able to help you. Fill in the online contact form on this website to request a call back from one of our advisers and receive a free initial consultation. Alternatively, you can call us directly on:

Buy To Let Mortgage Hotline - Call 0117 403 4222

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Call 0117 3137780 or Request Callback for Our Buy To Let Mortgage Team

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