Minimum Income Requirements for Buy to Let Mortgages

At Strive, we’re Buy to Let specialists — working with everyone from first-time buyers and new landlords to seasoned portfolio investors. Whether you’re looking to buy your first rental property or remortgage an existing Buy to Let, one of the most common questions we’re asked is: what’s the minimum income required?

Buy to Let mortgages are generally designed to be self-financing, with the rental income covering the mortgage payments. However, not all lenders see it that way. Some insist you have a minimum level of personal income, while others are completely flexible.

In this guide, we’ll walk you through the rules, the lenders, and what it means for your borrowing options.

Do You Need an Income for a Buy to Let Mortgage?

The short answer is: sometimes yes, sometimes no.

• Many lenders set no strict minimum income requirement, particularly if you’re an experienced landlord with a proven track record.
• Some lenders insist on a figure — most commonly £20,000–£25,000, though in some cases higher.
• Even when no minimum is stated, lenders often like to see at least a modest income, to demonstrate financial stability.

👉 Important note: The lender table below applies where the applicant is a homeowner occupier (not a first-time buyer, and not a portfolio landlord). Criteria for first-time landlords and portfolio landlords can be stricter.

Lenders and Their Minimum Income Requirements

Do You Need £25,000 Income for a Buy to Let Mortgage?

Not necessarily. While £25,000 is a common benchmark, there are plenty of lenders below this level — and many with no minimum requirement at all.

The right answer depends on your profile:

• Are you a homeowner or not?
• Are you a first-time landlord or experienced?
• Do you run a portfolio of properties?
• What’s your personal income and tax status?

What Documents Are Required?

The documents you’ll need depend on whether income evidence is required:

• Standard documents: Proof of ID, proof of address, and bank statements.
• If income evidence is needed:
  • Employed: Payslips and P60s.
  • Self-employed: 2 years’ SA302s and Tax Year Overviews, or full company accounts.
  • In some cases, an accountant’s certificate is acceptable.

👉 If no minimum income applies, you may not need to provide income proof at all.

How Long Do You Need to Be Employed for a Buy to Let Mortgage?

For lenders that require income, the minimum employment period varies:

• Some accept as little as 1 month in a job.
• Others want 3, 6, or even 12 months in continuous employment.
• Self-employed applicants usually need at least 12 months’ trading history (though some require more).

What About First-Time Buyer Buy to Let?

If you’re a First Time Buyer Buy to Let, Buy to Let affordability is often assessed more like a residential mortgage:

• Typically capped at 4.5–5 times personal income.
• Some lenders use a hybrid model, combining your earned income with the projected rental income.
• Criteria are stricter, as you won’t have experience as a homeowner.

Limited Company Buy to Let: Do You Need a Minimum Income?

If you’re buying through a limited company (SPV or trading), the rules are similar to personal Buy to Let.

• Some lenders set no minimum income requirement at all.
• Others will ask for £25,000+ personal income from at least one director/shareholder.
• Criteria can be stricter if you’re a first-time landlord or the company has only just been formed.

Other Scenarios: When Income Requirements Apply

Certain types of Buy to Let are considered higher risk, and lenders often impose minimum income thresholds:

• Holiday Lets – almost always have a minimum income requirement.
• HMOs (Houses in Multiple Occupation) – many lenders want to see £25k+ income due to the complexity of managing them.
• Portfolio Landlords (4+ mortgaged properties) – some lenders expect higher personal income to reflect the greater financial commitment.

Joint Buy to Let Mortgages

If you’re applying jointly, most lenders only require one applicant to meet the minimum income rule.

For example, if one applicant earns £30k and the other has little or no income, the case can still work.

“No Minimum Income” Doesn’t Always Mean No Income

It’s worth noting that even if a lender has no set minimum income, they may still want you to demonstrate some level of income — even if modest.

• For example, £5,000–£10,000 a year from employment, self-employment, or pension can be enough.
• This reassures lenders that you’re not completely reliant on rent for day-to-day living costs.

How Buy to Let Affordability Is Calculated

Unlike residential mortgages, Buy to Let affordability is based on rental income:

• Rent must cover the mortgage at a stress-tested interest rate (e.g. 5.5% at 140% coverage).
• Example: if interest is £500/month, the rent must be at least £700/month.
• 5-year fixes (or longer) often allow higher borrowing, because the stress test is easier.
• Top slicing – some lenders let you use personal income to make up the gap if rent falls short.

Strive: Buy to Let Mortgage Experts

At Strive, we specialise in all types of Buy to Let mortgages, including:

• First-time landlords
• Let-to-Buy (renting your home to buy another)
• Portfolio landlords
• Limited Company Buy to Let

We know exactly which lenders accept no income, which want £25k+, and how to navigate the rules for first-time buyers and portfolio cases.

👉 Get in touch with Strive today — whether you’re buying your first rental property or refinancing a growing portfolio, we’ll help you secure the right deal.