Most lenders will assess your deposit, income, credit history, and the property’s likely rental value before deciding whether to approve the mortgage. Some lenders are more flexible than others, especially for first-time landlords or applicants with more complex income.

Understanding what lenders expect before you apply can make the process much smoother. 

How Much Deposit is Needed? 

Buy to let mortgages usually require a larger deposit than residential mortgages.

In many cases, lenders expect at least 20% to 25% of the property’s value as a deposit. Some may ask for more depending on the property type, your experience as a landlord, or the level of rental income expected from the property. 

A larger deposit can sometimes provide access to lower interest rates and a wider choice of mortgage products. 

Why Rental Income is so Important 

One of the biggest differences with a buy to let mortgage in Nottingham is how lenders assess affordability.

Rather than focusing only on your personal income, lenders also check whether the expected monthly rent comfortably covers the mortgage payments. This is known as rental stress testing.

The property’s rental value is normally confirmed during the lender’s valuation process. Areas across Nottingham with strong tenant demand can sometimes perform more favourably during these checks. 

Do You Need a Minimum Income? 

Some buy to let lenders require applicants to earn a minimum income outside of the rental property itself.

The exact figure varies between lenders, though many look for a personal income of around £25,000 per year. Others place more focus on the property’s rental performance, particularly for experienced landlords. 

Your employment type, existing commitments, and overall financial position can all affect which lenders may be available to you. 

Can First-Time Buyers Get a Buy to Let Mortgage? 

Yes, though the criteria are often stricter. 

Some lenders are open to first-time buyers applying for buy to let mortgages, while others prefer applicants who already own a residential property. 

First-time buyer landlords may need a stronger credit profile, a larger deposit, and a higher income than more experienced landlords. 

Speaking with our mortgage advisors in Nottingham before applying can help you understand which lenders are best suited to your circumstances. 

Not Every Property Fits Buy to Let Criteria 

Certain property types can be harder to mortgage than others. Lenders may apply tighter criteria to: 

  • High-rise flats
  • Non-standard construction properties
  • Flats above commercial premises
  • Very small studio apartments  

The property’s condition and expected rental demand can also influence the lender’s decision. 

Understanding Your Buy to Let Options 

Buy to let mortgage requirements can vary quite a bit depending on the property, your deposit and your experience as a landlord. 

Some lenders are far more flexible than others, especially for first-time landlords, portfolio landlords or applicants with more complex income sources. 

Speaking with our mortgage advisors in Nottingham before applying can help you understand how lenders may assess your application and what buy to let mortgage options may be available.

Date Last Edited: May 18, 2026