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When it comes to owning more than one property, there are plenty of good reasons people do it. Some want a second home closer to work to cut down the commute. Others dream of a holiday home by the coast. And then there are those building up buy to let portfolios or diversifying into short-term lets. Whatever your motivation, the good news is — yes, you can have multiple mortgages.
At Strive, we specialise in helping people secure mortgages for second homes, buy to lets, and everything in between. With over a decade in the industry, we’ve seen every scenario imaginable. So, let’s get stuck in.
What Determines How Many Mortgages You Can Have?
There’s no fixed number of mortgages you’re “allowed” — it depends on your situation and the purpose of each property. A few key factors influence what lenders will approve:
1. How the property will be used
- Main residence: Your primary home, where you live most of the time.
- Second home: A property you use occasionally, perhaps for work or leisure.
- Buy to let: An investment property you rent out to tenants.
Each type comes with its own lending criteria, deposit requirements, and affordability rules. For a deeper look, check out our guide on second home mortgages.
2. Deposit size
The more properties you own, the more cautious lenders tend to be. You may need a larger deposit for a second home mortgage — typically 15–25%. For buy to let, that often jumps to 25% or more.
3. Affordability and income
This varies massively depending on the property type. If you’re taking on another residential mortgage, lenders will want to see strong income and minimal debt. For buy to let, though, some lenders focus more on the property’s rental income than your personal earnings.
Residential Mortgages and Second Homes
If you’re buying a property to live in — whether it’s your main home or a second residence — you can absolutely have more than one residential mortgage. It’s more common than you might think. Maybe you’ve got a flat in the city for work and a house in the countryside for weekends, or you’re moving but keeping your old home for now. Lenders see these situations all the time.
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Background Properties and Affordability
Most lenders are comfortable if you’re applying to live in the new property and already have “background” mortgages. If those background properties are let out, many lenders will ignore them when assessing affordability — as long as they’re self-funding.
However, if your background homes are also residential (for example, your main home and a second home you use personally), then lenders will factor both into affordability. You’ll need to show you can comfortably cover both sets of payments.
Deposit Requirements for a New Main Residence
If you’re buying a new home to live in as your main residence but already own other properties, most lenders will still treat the application as a standard residential one.
You’ll typically need a minimum 10% deposit, though some lenders will go as low as 5% if everything else fits neatly — income, credit, and background affordability.
Others may ask for a little more security, closer to 15–20%, especially if you’re carrying multiple existing mortgages or one of those background properties isn’t let out.
The key is showing that your background properties are well managed — ideally self-funding if they’re rented — and that the new mortgage is clearly for your main home.
Buying a Second Home Specifically
If you’re buying a second home rather than just moving, the bar’s a little higher. Expect to need around a 15–25% deposit, with only a handful of lenders dropping as low as 10%.
Affordability also becomes key — especially if one of the homes won’t be rented out or producing income. For more insight, see our guide to the best mortgage lenders for second homes in 2025.
How Many Residential Mortgages Can You Have?
In general, plenty of lenders will happily consider two residential mortgages, quite a few are open to three, and there’s a smaller pool beyond that.
Once you’re looking at four or more, lenders may start asking why you need so many residential homes — and they’ll be alert to the risk of “backdoor renting” without a proper buy to let setup.
Buy to Let Mortgages
If you’re buying a property as an investment rather than somewhere to live, the rules change quite a bit. Buy to let mortgages are built around the property’s income potential, not your personal salary — so affordability is judged differently, and there’s often more flexibility around how many you can have.
How Buy to Let Affordability Works
For buy to lets, lenders mainly focus on one key question: does the rent cover the mortgage?
As long as the property is self-financing — typically with rental income exceeding the mortgage payment by 125–145% — you’re in good shape. Your personal income still plays a role, especially if you’re a new landlord or higher-rate taxpayer, but it’s rarely the main deciding factor.
Minimum Income Requirements
While the property’s rental income does the heavy lifting, many lenders still like to see a minimum personal income — usually around £25,000 per year.
That said, it varies widely. Some specialist lenders have no minimum income requirement at all, provided the rental coverage is strong. Others, particularly those offering sharper rates, can set the bar higher. You can read more about this in our guide to buy to let minimum income requirements.
If you already have landlord experience or own a few buy to lets that perform well, lenders tend to take a more relaxed view.
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Deposit Requirements for Buy to Lets
Deposits for buy to lets are heavier. You’ll usually need at least 25%, though experienced landlords or investors with strong equity in existing properties might access deals from around 20%.
Some specialist lenders occasionally go lower, but that’s the exception. In general, the bigger your deposit, the wider your choice of lenders and the better your potential rates.
Portfolio Landlords (Four or More Buy to Lets)
Once you own four or more buy to let properties, you’re classed as a portfolio landlord — and that changes how lenders assess you.
Instead of looking at just the property you’re buying, they’ll review your entire portfolio — mortgage balances, rental income, and profitability.
If your portfolio is healthy and rents comfortably cover the loans, adding another property is usually fine. But if a few are underperforming, that can affect your ability to expand further.
Portfolio assessments might sound complex, but they’re simply about giving lenders a full picture of how sustainable your property business is.
How Many Buy to Lets Can You Have?
This is where buy to lets really differ from residential mortgages. While residential lenders might cap you at two or three, most buy to let lenders don’t set a hard limit — provided each property is financially sound and the overall portfolio makes sense.
Professional landlords often hold ten, twenty, or even more buy to lets, as long as they can demonstrate solid experience, good management, and a healthy balance sheet.
Can You Get Multiple Mortgages on One Property?
Yes — you can. It’s usually done in one of two ways: through a further advance (additional borrowing) with your existing lender, or by taking out a second charge mortgage.
A further advance means borrowing more from your current lender, secured against the same property, often at a new rate or term. It’s a clean, simple route if your lender is happy with your income, equity, and credit profile.
A second charge mortgage, on the other hand, is a separate loan from a different lender, still secured against the same property. It can be a smart move if your main lender won’t offer what you need — maybe they’ve capped your borrowing, or the terms aren’t competitive.
Both options can work well depending on your circumstances. It all comes down to affordability, equity, and what you’re trying to achieve.
How to Get Approved for Multiple Mortgages
If you’re serious about owning more than one property, the best first step is to speak with a broker who specialises in this kind of lending.
Every lender views multiple mortgages differently. It’s not always as simple as a 4.5–5x income calculation — especially for second home mortgages, where other costs, commitments, and tax implications come into play.
For buy to lets, it’s a completely different ball game. You’ll need to understand potential rental income, stamp duty costs, and ongoing running costs if it’s a second home rather than an investment.
The key is going in with a full picture — knowing your affordability, your goals, and how lenders will view your position. That’s exactly where Strive can make life a lot easier.
How Strive Can Help
At Strive, we specialise in mortgages for second homes, buy to lets, and everything in between. We know lender criteria inside out — who’s flexible, who’s cautious, and how to structure your application for the best chance of approval.
Whether you’re buying a second home, expanding your portfolio, or releasing equity through a further advance or second charge, we can help you navigate it all confidently and efficiently.
Get in touch today — let’s explore your options and build a plan that fits your goals perfectly.
Published: 20 October 2025
Jamie Elvin
Jamie is an expert in all things mortgages, and our most experienced broker. Connect with Jamie and get started to see how Strive Mortgages can help you.
