BTL mortgage for first time buyer

I have a number of properties that I have been letting for some years, and am now keen to help my son get into the business. I am prepared to help him with the deposit for his first property, but on looking for BTL mortgages it seems that most require someone to be a property owner already, which he is not. This is because he is working in Brussels for a while, and so would not be able to live in his own property anyway. Are there any mortgages that do not require this? Could I in some way act as a guarantor or is there some way that I could help him get started? Also is it possible for my son and his partner to have a joint BTL mortgage, and what would the requirement for earnings be in that case?
with best wishes


Jeffrey Shaw

Staff member
Yes, you could be his guarantor. Some mortgagees (lenders) also allow a parent's investment account to be effectively offset against an offspring's mortgage account. As you say, you and he could instead purchase/mortgage in joint names; but, if you do, you'd also need a Trust Deed governing respective shares/rights. Each mortgagee will have its own view on what earnings it will take into consideration.