Getting a Buy-to-Let Mortgage With No Income

If you’re looking to invest in rental property but don’t earn a regular personal income, it may still be possible to get a buy-to-let (BTL) mortgage. Some lenders take a flexible approach with landlords, focusing on the projected rental income. Here we’ll explain all the specific details about getting a buy-to-let mortgage with no income.

Can you get a buy-to-let mortgage with no income?

Yes, you can get a buy-to-let mortgage with no personal income, but your choice of buy-to-let lenders will be smaller. Certain lenders have no minimum income requirement, but the rental property must pass a financial stress test. If the projected rent covers the repayments (plus a buffer), that may be enough.

However, most mainstream lenders and high street banks still impose income minimums for buy-to-let applicants, even if it’s just to prove you earn enough to cover basic living expenses. So, it’s worth dealing with a BTL lender that can accommodate your level of income, even if you earn no income.

What if you have no proof of rental income?

Having no provable income (payslips, accounts, tax returns, contracts, etc.) doesn’t automatically prevent you from getting a BTL mortgage because lenders place more weight on the rental income projection for the property.

How to get a rental income projection

Most lenders require the projection to come from one of the following:

• A letting agent approved by the lender

• A RICS-registered surveyor

• A valuation report arranged through the lender

The rental income projection usually includes:

• Expected monthly rental income

• Local rental comparisons

• Comments on the property condition and suitability

• Voids and rent variability considerations

Lenders run this figure through their affordability stress test, which typically requires your projected rental income to be at least 125% to 145% of the mortgage payments.

How to get a buy-to-let mortgage with no income

If you don’t currently have any personal income, here’s how to maximise your chances of approval for a buy-to-let mortgage:

1. Work with a specialist broker: Many lenders who accept no income are intermediary-only, which means you can only access them through a broker. Your broker can also create and present your application in the best way.

2. Choose the property carefully: High-yielding areas can make it easier to pass the rental stress test without relying on your own income. Lenders will favour property investments with strong rental yields.

3. Prepare a financial-resilience summary: Some lenders will feel more comfortable if they can see evidence of savings or cash reserves on hand for vacant periods. Your broker can assist with putting this together.

4. Apply with the right lender: Some lenders are comfortable lending to applicants with no or low income as long as the rental coverage for the buy-to-let is sufficient.

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Lenders with no minimum income requirement for buy-to-lets

Here are a few popular lenders that may consider applicants with no income for a buy-to-let mortgage:

• The Mortgage Works: There’s no minimum income needed for a buy-to-let mortgage, and the maximum you can borrow is linked to how much you can let the property for. You can apply at any age if you’re an experienced landlord with a deposit of at least 35%; otherwise, the limit is 70.

• Accord Mortgages: You don’t have to meet a minimum income level, but if you do earn an income, Accord allows “top slicing”, which lets you top up any rental shortfall with your income. However, you need to earn at least £50,000 to do this. You can also borrow up to 80% LTV, meaning a 20% deposit (including for first-time landlords).

• Vida Homeloans: Evidence of income isn’t required for a buy-to-let mortgage, but you still have to declare any employment or if you’re self-employed. You can borrow up to 85% LTV for buy-to-lets, which means just a 15% deposit.

If you want a realistic idea of all your options, it’s best to have a brief chat with an experienced advisor, who can run you through the potential lenders worth approaching based on your income and situation.

You can use our free mortgage-sourcing tool below to view the latest buy-to-let mortgage rates available from these lenders and more below:

Are the rates higher for landlords with no personal income?

Sometimes, yes, but not always. Buy-to-let mortgage rates are typically influenced more by:

• Your LTV ratio and deposit

• The rental income strength

• Property type and type of rental (long-term, holiday let, HMO, Airbnb, etc.)

• Your credit history (some lenders are comfortable with bad credit)

• Landlord experience, or whether you’re a first-time landlord

Having no personal income doesn’t automatically trigger higher rates. Still, it can reduce your options and make it more challenging to find the most competitive deals without expert support from an advisor.

Can you do let-to-buy with no income?

Yes, it's possible, but it’s typically more difficult than getting a standard buy-to-let mortgage with no income. Let-to-buy involves two simultaneous applications:

• One for a residential mortgage on your new home

• Another for a buy-to-let mortgage on the property you’re moving out of

This matters because the buy-to-let side is usually fine, but the residential part is the challenge.

1. Buy-to-let part: Many BTL lenders don’t require a minimum personal income as long as the rental passes a stress test. If the expected rent comfortably covers the mortgage, specialist lenders may still lend even when you have little or no personal income.

2. Residential part: Residential lenders almost always require provable income, because these mortgages are affordability-tested against personal earnings, not rental income. This means if you truly have no income at all, the residential portion becomes the blocker.

Why choose Money Helpdesk for your buy-to-let mortgage?

Getting a buy-to-let mortgage with no income requires a broker who knows exactly which lenders will consider applications like yours. That’s where we can help.

Landlords and property investors across the UK choose us to help them arrange a buy-to-let mortgage with no income because we offer:

• Access to specialist lenders who accept low or no income

• Free initial chat with no obligation to proceed further

• BTL advisors who are 5-star on external review sites

• Introductions to lenders comfortable with complex buy-to-let applications

If you’d like to compare the latest BTL rates or speak to a specialist about getting a buy-to-let mortgage with no income, you can get started here.