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Joint Buy to Let Mortgage image

Joint Buy to Let Mortgage

Anthony McQuilliam explains how a joint Buy to Let mortgage works.

Podcast approved by The Openwork Partnership on 05/12/2025.

Can you get a joint Buy to Let mortgage? Can I add someone to my Buy to Let mortgage?

Yes, you can absolutely get a joint Buy to Let mortgage. Almost all lenders are geared up to have at least two people on a Buy to Let mortgage.

If you’ve got a Buy to Let mortgage already and want to add somebody on, you can do that through a Transfer of Equity. You have to go through a solicitor and the mortgage company to do that.

It’s worth speaking to your solicitor to check if there’s any stamp duty liability when you go through the process but, from a mortgage standpoint, that can definitely be done.

How many names can you have on a Buy to Let mortgage?

The majority of lenders will allow you to have two people on a Buy to Let mortgage, but some niche lenders allow up to four, depending on the situation.

What eligibility criteria do I need to meet for a joint Buy to Let mortgage?

It’s no different than applying by yourself. For example, if there’s a minimum credit score to meet, that would apply to both of you. If one of you had bad credit and one of you had good credit, it would be based on the worst credit situation.

But if only one of you has an income, lenders will just check that person meets the minimum income criteria. Overall, the criteria for a joint mortgage application is no different from a standard Buy to Let purchase.

How much deposit is needed for a joint Buy to Let mortgage?

The deposit for a joint Buy to Let mortgage would be 25% with the vast majority of lenders. One or two lenders may let you put down 20% or even 15% as a deposit, but with higher Loans to Value and smaller deposits, you face higher interest rates. Unless it’s a really high cashflow deal, that usually means it’s harder to get the rental income to stack up.

How much can I borrow for a joint Buy to Let mortgage?

It works slightly differently with a Buy to Let mortgage compared to a residential mortgage. How much you can borrow is based on a couple of factors. The first is your deposit, and you usually need to put down 25%.

The rest of the borrowing depends on how much the property rents out for. It’s less about you and your partner as people and more about that rental income against the mortgage payments. That’s how lenders figure out how much you can borrow.

Can I get a joint Buy to Let mortgage if my partner is a first-time buyer?

Yes – even if you are both first-time buyers, some lenders will give you a joint Buy to Let mortgage. It does limit your options and it’s assessed slightly differently. Rather than basing it on the rental income, lenders check affordability as if you were going to live in the property yourselves.

If you own a property yourself and your partner doesn’t, lenders accept just one person being a homeowner – they then assess it as a standard Buy to Let mortgage.

Speak to an expert

Our highly experienced Advisers are ready to help you with either buying or remortgaging a home, protecting your property and lifestyle along with saving you time and effort, ensuring you have a competitive deal right for you.

Can I still get a joint Buy to Let mortgage if I’m self-employed?

You can indeed. The main difference is that when you’re employed, lenders look at your last three months’ payslips to check you meet the income requirements. If you’re self-employed, they look at the last two years’ self-employed accounts.

As long as those have been submitted and the rental income of the property stacks up, the other criteria are the same.

How does remortgaging a joint Buy to Let mortgage work?

The process for a joint Buy to Let remortgage is the same as a single applicant remortgage. The only difference is they’re assessing two people’s situations rather than one.

It’s always worth looking at remortgaging at least four to six months before your mortgage expires. That gives you more than enough time to assess your situation and your plans, and get everything set up. Then you avoid the lender’s standard variable rate – which causes your payments to increase.

Can I get a joint Buy to Let mortgage with bad credit?

We often see people that have missed payments here and there, and lenders fully understand that this is happening more often.

It may just mean finding a lender that specialises in clients with missed payments or impaired credit. It’s still doable, depending on how recent and how bad the credit is. You may have more limited options, but there will still be Buy to Let mortgages available for you.

You’ve demonstrated how a mortgage broker can help – is there anything else we need to know?

Speak to a mortgage broker. Not all Buy to Let lenders let you approach them direct. You can often only speak to them via a broker, so it’s worth having a conversation with us if you’re looking at investing in a joint Buy to Let property.

We can see what options are available from across a wide spectrum. Also, if there’s bad credit involved, a standard bank may kick back your mortgage application.

Key Takeaways:

  • Most lenders offer joint Buy to Let mortgages for two people; some niche lenders allow up to four.
  • Eligibility is the same as for a single applicant, but bad credit from one party will be the basis for assessment.
  • The borrowing amount is primarily based on the property’s potential rental income versus mortgage payments, not personal income (unless both are first-time buyers).
  • A 25% deposit is standard; smaller deposits (20% or 15%) are possible but usually mean higher interest rates.
  • A mortgage broker is highly recommended, as many Buy to Let lenders are only accessible through them, particularly for cases like bad credit.

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 05/12/2025.

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