Question

Can I get a buy to let mortgage as a first time buyer?

Answered

It is possible, but the choice of lenders is much smaller and the terms are usually worse.

Most buy to let lenders want you to already own a home, on the basis that an existing mortgage record is what they are underwriting. Those that will lend to a first time buyer often want a larger deposit and a minimum income.

Buying an investment before a home also affects the stamp duty position on a later purchase, and it removes first time buyer relief when you do come to buy somewhere to live.

Whether it makes sense depends on your own plans, which is a conversation with a broker rather than an article.

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