Try family buy to let and keep your wealth in the family

To check you can afford a Buy to Let property, you will normally need to put down at least 25-40% deposit. Plus, lenders usually want the monthly rent to be 25% higher than your repayments to ensure you can cover the costs. This is why how much you can borrow for a Buy to Let mortgage is calculated using the expected rental income the property is likely to generate, although other factors like your credit score are also taken into account.

Yes, it can be harder to get a Buy to Let mortgage, as lenders typically want a larger deposit in comparison to residential mortgages.

Although you may not need income to purchase a Buy to Let property, the majority of lenders will need you to have some sort of income, either employed or self-employed. This is especially the case in areas where high property prices mean passing affordability checks is harder, so you might have to use your income to support your rental yield through "top slicing".

In order to qualify for a family Buy to Let mortgage, you need to plan to rent out the property to a close family member; this includes children, siblings, parents or grandparents. Relatives like cousins, second cousins, aunts, uncles, nieces, nephews do not count.

If you have taken out a family Buy to Let mortgage, you can live in the property as long as there is also a paying tenant. If you have a standard Buy to Let mortgage, you cannot live in the property.