Head of Content
Mortgage Advisor & Director
Can you get a BTL mortgage with no income?
A landlord who is unemployed and is looking to buy a buy to let property or raise finance against an existing property may struggle to find a mainstream mortgage.
Most lenders will require a minimum income of £25,000 before considering a buy to let mortgage application. The good news is that there are some lenders with no minimum income requirements for buy to let mortgages, as long as you meet their other lending criteria.
At Teito, we are a whole of market mortgage broker, which means we have access to thousands of mortgages not available to the general public, including those who specialise in buy to let mortgages. If you're struggling to get a BTL mortgage due to lack of income, complete our simple online form today and get the process started.
How can I get a BTL mortgage with no income?
Certain lenders will consider a BTL mortgage application with no minimum income, as long as the income is enough to support the applicant's lifestyle and is self-sustainable.
Assuming you can keep up with current commitments, such as existing mortgage repayments and other financial obligations as well as living expenses, these lenders may consider your application. Your income could be from a pension or disability payments, for example, and does not need to be income from employment or self-employment.
Additionally, you will need to be a homeowner, and the BTL property itself should present a robust investment.
How can I improve my chances?
Your best chance to secure a BTL mortgage with no income is to engage an experienced broker.
Not only will they be able to recommend the most suitable lender and boost your chances of approval, but they will also be able to help you get the best rates possible on your new mortgage.
At Teito, our team of experts have helped many people like you to get the best deal on their new BTL mortgage. Start comparing deals today by completing our simple online form, and we promise to make your mortgage journey as stress-free as we can!
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Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
