Can first time buyers get a buy to let mortgage?

Pocathor

I heard recently that first time buyers are no longer able to get a buy to let mortgage... is this true?
Is it just extremely hard to get a buy to let mortgage as your first mortgage or have they banned it completely?

Thank you,

ACG

Its not true, but your choice of lenders will be less than a handful.

If you want one your going to need a broker as I dont think any high street lenders will do it off the top of my head.

amnblog

Lenders don't like it as buyers try to buy properties with BTL loans in which they intend to reside.

Pocathor

If we generally want to buy a house to rent out though how can we prove that?

Very annoying that we won't be trusted… not sure how we are going to prove we are still going to live at home! Very frustrating.

kingstreet

The lenders who do offer them will ask questions which tell them you can afford to purchase the property via the residential route and would therefore be mental to go BTL route with its higher fees and rates compared with residential.

shortchanged_2

Pocathor wrote: »

If we generally want to buy a house to rent out though how can we prove that?

Very annoying that we won't be trusted… not sure how we are going to prove we are still going to live at home! Very frustrating.

Bit wooly that answer or do you mean genuinely instead of generally?

Mortgage_Mark_2

Yes, there will be options, most likely high street options, but best to speak to a broker as some BTL lenders are introducer-only.