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Buy-to-Let mortgages

Want to become a landlord, expand your portfolio or remortgage your rental property? Get expert advice on Buy-to-Let mortgages from Saga Mortgages, provided by Tembo.

Are you looking to buy your first rental property to earn additional income in retirement? Or maybe you already have a portfolio and need help remortgaging to find the best rates? Whatever your situation, with Saga Mortgages, you’ll get access to expert advice on the best Buy-to-Let mortgage deal for you, from across the market. You need to remember that the loan is secured against your property, so your home may be repossessed if you don't keep up monthly repayments. 

Types of Buy-to-Let mortgages

Standard Buy-to-Let

This is a traditional Buy-to-Let mortgage, where you’ll buy a new investment property which you’ll then rent out to tenants. Interest-only mortgages are more common with Buy-to-Let, but you could have the option of a repayment mortgage too.

Family Buy-to-Let

Get a mortgage on a property which you intend to rent out to family members, like your children or grandchildren. Unlike a standard Buy-to-Let, with this type you can live in the property alongside your loved one if you wish.


Switch your residential mortgage on your current home to a Buy-to-Let, so you can rent it out to tenants, while you buy a new home to live in. This type of Buy-to-Let mortgage is ideal for first-time landlords, people that have inherited a property or those that want to move without selling their current home.

Top slicing

Affordability for a Buy-to-Let mortgage is typically calculated using the rental yield of a property. If this isn’t enough for your mortgage, you can look at top slicing. Instead of being based on rental yield alone, with this mortgage we’ll also use some or all of your personal income or earnings to contribute to the affordability.

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Knowing your mortgage options

Saga Mortgages can help you understand and navigate your mortgage options.

Finding out which products are available starts with knowing which ones you're eligible for and we can help with that.

Am I eligible?

How is affordability worked out for a Buy-to-Let?

Affordability for Buy-to-Let mortgages is quite different to residential mortgages. Instead of using income to calculate what you can borrow, the lender will use a rental yield (or predicted yield if it’s a new purchase). The monthly rent the property will generate should be 25% higher than your mortgage repayments, to ensure you can cover ongoing costs. If the rental yield doesn’t allow you to borrow enough, you can look at top slicing - including some of your earnings or income to boost affordability.

In addition, you’ll need a larger deposit than with a residential mortgage. A lender will typically want you to put down between 25-40% deposit. Lenders will also take into account other factors like your credit score.

Is it more difficult to get a Buy-to-Let mortgage?

It can be harder to be approved for a Buy-to-Let mortgage because the minimum deposit requirements tend to be higher in comparison to residential mortgages, and the interest rates are often higher which can make the monthly repayments less affordable. Lenders tend not to favour applicants where they don’t own a home currently, so renters who are looking to purchase an investment property might struggle.

Do I need an income to get a Buy-to-Let mortgage?

Although you may not need an income to buy a Buy-to-Let property, most lenders will want you to have some sort of income - especially if the property is in an area with high property prices, as this can make it harder to pass affordability checks. A way around this is to use “top slicing”, which is when your income is used to support the property’s rental yield.

Can you rent out a Buy-to-Let to family?

You can rent out a property to your loved ones, but to do this you will need to get a Family Buy-to-Let mortgage instead of a standard Buy-to-Let mortgage. This is because when you rent out to family the mortgage needs to be regulated to ensure everything is above board.

What’s the application process?

Once you’ve completed a Saga Mortgages recommendation online, you’ll be invited to book a no-obligation appointment and begin the advice process. Your dedicated mortgage advisor will take you through the options available from our panel of over 100 lenders.

Once you’ve decided on the option you’d like to go with, we’ll complete a full qualification for all applicants - this includes verifying your income, outgoings, identity and credit history.

Why choose Saga Mortgages?

Saga Mortgages, provided by Tembo, is a service created to better support those over 50 looking to take out a mortgage or remortgage. You’ll benefit from award-winning advice from our friendly, experienced team of mortgage professionals, who are available seven days a week. They’ll search all the available options to find the best solution for you.

To get started, all you have to do is create a Saga Mortgages recommendation. This shows you what you could be offered, including indicative monthly repayments, live interest rates and product explainers. 

Can I talk to an advisor?

Through the Saga Mortgage service, you can book an appointment with award-winning mortgage advisors. Simply complete our online fact find and, if you’re eligible, you’ll be directed to book an appointment. Our friendly team is available seven days a week, ready to answer any questions you may have about Buy-to-Let mortgages.

Here and ready when you are

Whether you have questions about a specific kind of mortgage or just want to find out more, the expert team are on hand to help.

0330 018 3071

Mon-Thu 9am-8pm
Fri 9am-5:30pm
Sat-Sun 10am-3pm

Am I eligible?

What lenders will you get access to?

Through Saga Mortgages, you will have access to mortgage advice through our partner Tembo. Their award-winning mortgage advisors will search over 20,000 mortgage products and over 100 lenders to find the most suitable and best priced deal for you. This includes all the high-street lenders you’ll be familiar with, like Nationwide, Halifax, Lloyds, Barclays and HSBC, as well as smaller, specialist lenders like Livemore.

Is Saga Mortgages FCA regulated to give mortgage advice?

All mortgage advice through Saga Mortgages is provided by Tembo Money Limited, who are regulated by the Financial Conduct Authority (FCA) under the registration number 952652. Their team of award-winning mortgage advisors are experienced in providing mortgage advice, including guidance on Buy-to-Lets, remortgaging, family-supported mortgages and later life lending.

Important information

Your home may be repossessed if you do not keep up payments on your mortgage. Saga Money may receive payment from Tembo if you obtain a mortgage offer through the Saga Mortgages service. This will not impact the amount you pay for the service.

Saga is a registered trading name of Saga Personal Finance Limited, which is registered in England and Wales (company number 3023493). Registered office 3 Pancras Square, London, N1C 4AG. Saga Personal Finance Limited is authorised and regulated by the Financial Conduct Authority under the registration number 178922.

Tembo Money Limited (12631312) is a company registered in England and Wales with its registered office at 18 Crucifix Lane, London, SE1 3JW. Tembo is authorised and regulated by the Financial Conduct Authority under the registration number 952652. Tembo Money was awarded Best Mortgage Broker at the British Banking Awards in 2022 and 2023.