Joint Buy to Let Mortgage
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Joint Buy to Let Mortgage
In this Q&A, we sit down with Alan and Mark from Yellow Brick Mortgages to explain everything you need to know about getting a joint Buy to Let mortgage. If you are wondering how many people you can have on the mortgage, what the eligibility criteria are, how much deposit you need, or even if you can get one with bad credit, this is the guide for you.
Podcast approved by The Openwork Partnership on 17/02/2026.
Can you get a joint Buy to Let mortgage? Can I add someone to my Buy to Let mortgage?
Yes, you can certainly get a joint Buy to Let mortgage, or even a solo one. You could potentially have up to three or four people on a mortgage if needed.
To add someone to an existing mortgage, the short answer is yes, but it is more complicated. If you already own the property, adding someone to the mortgage could potentially incur a stamp duty liability, as they become a part-owner. So, while it is possible, be aware there may be extra costs involved.
How many names can you have on a Buy to Let mortgage?
This will range from lender to lender. Some lenders we have access to can allow up to six people, but most are typically around two to four. For the majority of people, two to four names will be more than enough, whether they are a married couple or friends.
What eligibility criteria do I need to meet for a joint Buy to Let mortgage?
Buy to Let eligibility is different from residential mortgages as income is not as important as when buying your own home. Lenders vary, but they generally want to see some form of earned income. A common minimum threshold is £25,000, which can be earned singularly or jointly. However, some lenders have no minimum income requirements, so you could, in theory, get a mortgage with no income if you had, for example, an inheritance for the deposit.
Generally speaking, you will need to cover a 25% deposit plus stamp duty, legal fees, and any other purchase costs. The property’s rent must cover a certain threshold to allow you to borrow a specific amount. If you can cover the costs of buying, then the chances are you can get a Buy to Let mortgage.
How much deposit is needed for a joint Buy to Let mortgage?
The deposit amount varies from lender to lender, as they all have different policies. Some lenders might accept a minimum of 15%. However, many high street lenders typically look for a 25% deposit, while a few might accept 20%.
A Buy to Let or investment property generally requires a bigger deposit than a residential mortgage (which can be as low as 5%) to lower the risk for the bank.
How much can I borrow for a joint Buy to Let mortgage?
Lenders use a calculator to determine how much you can borrow, based on a threshold that the rent needs to exceed. Generally, you are looking for about 145% rental coverage for a personally-owned Buy to Let. For a five-year fixed rate, this is based on the interest rate you get. For a two-year fixed rate, it is normally a little higher, meaning you need a slightly higher rental income to get the maximum 75% loan.
Ultimately, each lender has their own specific calculator, similar to a residential mortgage, and the rental income is what determines how much you can borrow.
Can I get a joint Buy to Let mortgage if my partner is a first-time buyer?
Yes, you can. However, there will be fewer options available because some lenders prefer you to be an existing homeowner.
There are definitely options where a first-time buyer can look to get a rental property, especially if they have an arrangement like accommodation provided as part of their job package.
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What if I’m self-employed, can I still get a joint Buy to Let mortgage?
Yes, you can. Income is a secondary consideration for a Buy to Let mortgage. As long as you have some form of earned income, whether you are employed, self-employed, or run your own company and take a salary and dividends, that is enough for most lenders.
You can ultimately get a Buy to Let mortgage with employed, self-employed, or even no income. Your personal circumstances will determine whether you have more or less choice of lenders.
How does remortgaging a joint Buy to Let mortgage work? Are there any differences?
The process is very similar to a residential remortgage. When your fixed rate is ending, you look at remortgaging options to secure a new deal. The lender will do an assessment based on the equity in the property and the affordability, which is determined more by the rental income than your personal earned income.
If you pass the assessment, there will be legal work involved to manage the switch from one lender to another, ensuring the new deal starts immediately when the old one finishes. This avoids reverting to the much higher Standard Variable Rate.
The key difference from a residential remortgage is the criteria and the process focusing more on affordability.
Can I get a joint Buy to Let mortgage with bad credit?
The answer is yes and no, as it depends on the nature of the bad credit. A couple of missed payments is likely not a big deal, but issues like IVAs, defaults, or bankruptcies will make it more difficult.
High street lenders will have a similar credit scoring profile for Buy to Let mortgages as used for residential mortgages, making them harder to access with bad credit.
You may find a lender whose profile fits your credit situation, or you might need to choose a lender with specific credit-related policies. This could mean paying a slightly higher interest rate, similar to what you would do for a residential mortgage with credit issues within the last six years.
How can a mortgage broker help? Do you have anything else to add?
A mortgage broker can definitely help. One of the main benefits is having access to lenders you cannot approach directly. While high street banks offer some Buy to Let mortgages, there are many lenders and specific Buy to Let brands of main banks that only accept business from brokers.
Our role is to understand what is important to the client and what they need from the mortgage, then match that to the most appropriate product from a much wider range of options.
The Buy to Let market is also more confusing than the residential side because the pricing and fees vary significantly. Depending on the size of the mortgage, a broker can help work out what type of product would work.
Summary
Getting a joint Buy to Let mortgage is possible and often easier than a residential mortgage because a lender’s decision is based more on the property’s rental affordability than your personal earned income. While a minimum income of around £25,000 is common for many lenders, some will offer a mortgage with no income if you can cover the costs. The rental income must meet a lender’s specific threshold, typically around 145% rental coverage, to secure the loan amount. A broker can help you navigate this market, especially since they have access to a much wider range of products and can explain the varying fees.
Key Points
- Joint Mortgages are Possible: You can get a joint Buy to Let mortgage, or even add someone to an existing one, although adding a person to an existing mortgage may incur stamp duty liability.
- Number of Borrowers: Most lenders allow two to four names on a mortgage, with some lenders accepting up to six.
- Income and Eligibility: Income is a secondary consideration. While some lenders require a minimum of £25,000, others have no minimum. The primary factor is that the rent must meet the lender’s affordability threshold.
- Deposit Required: A Buy to Let mortgage requires a larger deposit than a residential one. Expect to need between 20% and 25%, though some lenders may accept 15%.
- Remortgaging is Similar: Remortgaging a joint Buy to Let mortgage is similar to a residential one, with the assessment focused more on the property’s rent and equity.
- Bad Credit Options Exist: It is possible to get a Buy to Let mortgage with bad credit, but it depends on the severity. High street lenders are harder to access, but other lenders may be able to help – though it could result in a slightly higher interest rate.
- Broker Access: A mortgage broker has access to Buy to Let lenders and products that you cannot access directly, and they can advise on the confusing fee structures.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
MOST BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
Approved by The Openwork Partnership on 17/02/2026.
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- Exceptional customer service
- We are an independently owned brokerage offering first charge mortgages from the whole of the market.
- Available 24/7 to ensure we are there to help when you need us.