Is there a minimum income requirement for buy-to-let mortgages ?

Yes, there is typically a minimum income requirement for buy-to-let mortgages. Lenders often want to ensure that you have a stable source of income to cover costs if there is any rental void periods. The specific income requirement can vary between lenders and may depend on factors like the size of the mortgage, the rental income potential of the property, and your overall financial situation. Generally, lenders may require a minimum annual income ranging from £25,000 to £30,000 or more but there are many now that have no minimum income requirement. It’s important to note that meeting the minimum income requirement, if there is one, is just one aspect of the eligibility criteria for buy-to-let mortgages. Lenders also consider factors like your credit history, the property’s rental income potential, and your ability to cover any rental void periods. To determine your eligibility, it’s advisable to consult with a mortgage broker who can provide guidance tailored to your specific circumstances.

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