Buy to Let Mortgage with No Minimum Income

By admin In Blog On January 27, 2022

So, you are thinking of applying to buy a Buy to Let Mortgage with No Minimum Income. It is a great idea and simple to apply it for. Buy to let mortgage is for consumers searching for ways to purchase a property to rent out instead of it. These are interesting only. In other words, repayments will pay off only the interest, not the cash on the mortgage.

A buy to let mortgage is a sold mortgage for consumers who purchase property for investment instead of living themselves. It works differently from residential mortgages so that selecting to rent out your property; then financers prefer to finance it with a buy to let mortgage.

Moreover, it is important to choose a reliable lender for this procedure to do hard work for you. The financer will compare the other lenders and deals across the market. In this way, you will be able to get the best buy-to-let mortgage that meets your requirements. Learn more about these requirements in the below lines.

Buy to Let Mortgages

It is different from a standard mortgage and a buy-to-let mortgage, so its criteria are different from others. The financers of buy to let need you have least income $ 25,000, or $20,000. Once your buy-to-let mortgage is approved, you are free to rent it out. Some other differences are here.

  • Interest rates 

The interest rate is higher on buy-to-let mortgages than residential mortgage rates.

  • Property value and Deposit

The minimum deposit that is required is higher than the normal residential loan. The candidate needs to cover 20% at least of the value of the property on the BTL mortgage.

  • Arrangement fees

Similarly, on a BTL mortgage, the processing fee is higher than the conventional mortgage. It comes across more fee on arrangements that is easy to calculate as the percentage of the amount you are lending instead of a flat fee.

How Can I Get a Buy to Let Mortgage with No Minimum Income? 

It is difficult to buy to let a mortgage with no minimum income, but it is not impossible. Few financiers offer it; however, it needs to meet their strict criteria. Most commonly, lenders are willing to give this opportunity to consumers who can provide income proof. It supports their lifestyle to provide the amount they apply for.

Moreover, they check whether your financial situation is self-sustainable or not. It means that you can fulfil your commitments, including repayments of mortgages. One must have a disposable income to let you live for your life.

It does not matter that you are self-employed, employed, or businessman; you can be living off disability payments or pension. It is important to learn about the criteria for getting finance for your property.

Buy to Let Mortgage with No Minimum Income

With a buy-to-let mortgage that needs no minimum income, a threshold value cannot be accepted. In the market, you will meet some financers that can consider financing you with no income, but you need to give them the proof that you currently have a running business and you are a homeowner. A candidate needs to meet these criteria for finance.

Buy to Let Mortgages Suitable for Applicants with Low Income

If you are thinking of applying to buy to let mortgage with no minimum income, then you need to complete your search in the market and online. You know that landlords have various prices and may not have a profile of standard income needed by several famous financiers. However, you need to satisfy them according to the criteria they introduce as per their policies. It is important to prove your income according to your lifestyle and living standard.

Now you need to check the market to buy to let mortgage with low income. It is good to compare the prices of the property and the financer’s interest rate so that it will be easier to get a buy-to-let mortgage with low income.

Financers require the rental income to be a minimum of 125% of the monthly repayments of the mortgage. It can be higher than that, depending on the lender’s criteria. The majority of the lenders need you to earn on your own. To manage these things, it is good to complete your calculations.

How much do I need to earn to get a Buy to Let Mortgage?

We have discussed above that the requirements of the financers are very high, and for the candidates, it is not easy to meet them. The majority of the lenders need rental income, which must be 125% of the monthly mortgage repayments. It can be higher because the criteria vary from lender to lender. Now, you can look for the buy to let mortgage with no minimum income.

The amount a candidate borrows on a buy-to-let mortgage depends on the monthly rental income he will get. This calculator gives you an idea of what you borrow based on the expected rental earning.

It will guide you on how much you need to earn to get a buy-to-let mortgage. Some lenders have not introduced a tough criterion, but some of the lenders check how much income you earn from self-employment and employment.

Can I Get a Buy to Let Mortgage Without a Job?

Yes, it is possible to get a buy to let mortgage with no income. In one of the above sections, we have described that you can get a BTL mortgage even if you are on a pension. The only thing you have to do is provide proof of your house or property ownership and guarantee the repayments mortgage.

However, most financers do not pay attention to the application from the 1st time landlords until they provide proof of their house or property ownership. Moreover, candidates must provide the surety that they will keep their mortgage repayments containing repaid the present mortgage for a year minimum without any financial problems.


The process of applying to get a buy to let mortgage with no minimum income is not easy, but it is not impossible. It is a special type of mortgage based on the fact that you do not need a permanent resident. The entire procedure is different in higher interest from the normal mortgage. Moreover, how much you can lend from the lender is assessed on how much rent your house can generate.

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