First-Time Buyer, First-time Buy-to-Let as Your First Property?

Owning property has long been regarded as one of the most secure ways to accumulate wealth. But with soaring property prices in many parts of the UK, including Oxford, the idea of buying a home to live in has become less achievable for many first-time buyers. This has led to a growing number of people asking a different question:

Can I buy a buy-to-let property even if I’ve never owned a home before?

The short answer is yes. You can. But it comes with unique challenges and opportunities.

We will explore the reality of becoming a landlord as your very first step onto the property ladder. Whether you're living at home, renting in a city you can't afford to buy in, or just thinking outside the box, here’s what you need to know.

First-Time Buyer, First-time Buy-to-Let Investor?

A first-time buy-to-let investor is an individual who purchases their first property with the intention of renting it out, rather than living in it. Unlike traditional buy-to-let investors, who usually already own a residential home, first-time landlords are entering the property market from scratch.

This group is growing. In cities like Oxford, where the average property price remains significantly above the national average, buying to live is out of reach for many. Instead, people are choosing to invest in more affordable towns, using the rental income to build equity while continuing to rent or live with family.

Can You Get a Buy-to-Let Mortgage If You’ve Never Owned a Home?

Yes, but it’s more complicated. Most buy-to-let lenders prefer applicants who already own a property. However, a growing number of lenders now accept first-time buyers for buy-to-let mortgages with the right profile.

You’ll typically need:

A 25% deposit or more, Strong, steady income from employment or self-employment, A clean credit history, and Evidence that rental income will cover 125145% of the mortgage payment

Some lenders may also require you to be over a certain age (usually 21), have a minimum annual income (often £25,000+), and pass affordability checks that include your finances as well as the property's rental potential.

Real Examples: Who Is This Strategy Right For?

1. Living with Parents  Sam, 27, lives at home in Oxford and works in IT. Buying nearby wasn’t an option, but he saved aggressively and bought a two-bedroom house in Banbury. His tenants now cover the mortgage, and he’s building equity while living rent-free.

2. Renting in London,  Ella, 30, is a teacher renting in London. She wanted to get on the property ladder but couldn’t afford anything locally. Instead, she bought a flat in Swindon as a buy-to-let. Now, her rental income supports the mortgage, and she’s begun her journey as a landlord.

3. Young Professional with Savings  A client in Headington had never owned a property, but with a substantial salary and solid savings, we helped them secure a buy-to-let mortgage for a flat in Bicester. They now manage the property while continuing to rent themselves.

These stories show that you don’t need to wait until you can afford to buy where you live. You can start investing smartly today if you're financially prepared and work with the right broker.

The Risks to Be Aware Of

Buying to let isn’t without challenges. First-time landlords must consider:

Void periods (when the property is unoccupied), Maintenance and repair cost,s Landlord responsibilities and regulations, Higher stamp duty and mortgage rates

It’s essential to factor in all costs and have a buffer in place to cover unexpected issues. You should also consider whether to self-manage or use a letting agent.

Why It’s Smart to Work with a Mortgage Broker

Many lenders don’t advertise their first-time landlord criteria, and some won’t accept you unless you already own another property. That’s where a mortgage broker comes in.

At Drummonds Finance Group, we work with lenders across the market, including those who are open to first-time buy-to-let investors. We help structure your application, ensure your finances are presented clearly, and recommend options based on your income, goals, and property plans.

We’ve helped clients across Oxfordshire, from Bicester to Banbury, make smart first-time investments, even when buying a residential home wasn’t yet an option.

Is It Worth It?

In many cases, yes. For people who are priced out of their local market or want to build a future rental portfolio, buy-to-let can be a great first step. It won’t be right for everyone, but with research, planning, and the right support, it can be a strategic move that puts you ahead.

Start Your Journey

If you're considering buy-to-let as your first step on the property ladder, we’re here to help. Whether you're living at home or renting in an expensive city, we’ll guide you through the mortgage process and help you find a lender that understands your goals.

Visit our Buy to Let page or Contact Us to get started.