I have recently just taken out a standard residential mortgage on a property as a first time home buyer, my monthly payments will start soon.

I was wondering if it will be possible in the future for me to buy a rental property using a buy-to-let mortgage, while still paying off the residential mortgage on my own residence. My aim is to use the money from the rent I receive for the new property to pay off my existing mortgage.

This in the United Kingdom.


3 Answers 3


Yes, you can have a buy-to-let mortgage on a rental property at the same time as a residential mortgage on your own property. A lot of landlords do this.

I wouldn't go expecting your rental property to contribute much to paying off your residential mortgage. Most of it will go on the various costs and fees of renting out a property (not least the buy-to-let mortgage!). The main financial benefit in the UK of owning a rental property with a substantial mortgage on it is that the value of the property goes up (in a rising market, which it normally seems to be).

  • Sorry forgot to mention, the buy-to-let mortgage will be for a different property not the same one. My aim is to use the money from the rent I receive for the new property and pay off my existing mortgage, why will I need to pay so much deposit for the buy-to-let-mortgage? Oct 27, 2016 at 10:48
  • 1
    If you want to know why you need a big deposit for buy-to-let, please ask a separate question. Or try a bit of googling.
    – AndyT
    Oct 27, 2016 at 15:09

As Andy T says, it is very common for landlords to have a residential mortgage (typically capital + interest) on their own home, and a buy-to-let mortgage (typically interest-only) on each rental property that they own.

However, before going down this route, you will need to do some homework. Buying and letting a property is covered by a fair amount of legislation and tax rules; and in the last couple of years, the amount of regulation has increased, as has the amount of tax you're likely to pay.

Letting a property can be profitable, but you need to do the maths first, and make sure you do everything by the book. Using a reputable letting agent, at least for your first tenant, should help avoid common pitfalls.

There are a number of good websites on this subject. Note that the rules in England, Wales, Scotland and Northern Ireland are all different, so make sure that you get the right information!


Yes you can.

Buy to let mortgages are typically lent on a combination of expected rental income, plus a part of the applicants other income. They also (at the moment) usually require a fairly hefty deposit.

The exact requirements are likely to have changed by the time you apply, but in basic, yes.

There is another option. You can increase your mortgage on your currently property, and buy the BTL with cash. This gives some more flexibility, as you can move faster, so is great for an auction purchase. It is also often cheaper to mortgage your main property, and you will get a lower rate.

Of course, to do this you will need sufficient equity in your main property, and income to cover the mortgage repayments, so the practicality of this depends on your main property value and the amount you need.

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