I am 20 years old and on a low salary, would I qualify for a buy to let mortgage?

I have recently come into an inheritance and want to invest some of the money in property. The idea is to buy a flat or house for around £150,000 to rent out and I can put down a 50 per cent deposit. I am 20 years old and currently earn £16,000 a year. I want to keep my options open and maybe live in the flat or house at a later date. My question is, would I be able to get a mortgage due to my age and low salary?

It is unlikely that any buy to let lender would give you a mortgage because you don’t already own your own home, you are not yet 21 and in general, they like borrowers to earn at least £25k pa. You could get a residential mortgage based on around 4.5 times your salary and live in the property yourself. Remember, you could not then rent it out because this would be breaking the terms of the mortgage. However, you could consider taking a lodger as this is usually permissible but do check with the lender beforehand. More information on the Rent a Room Scheme can be found on

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