As we mentioned previously, the least rental income you should have for a Buy-to-Let mortgage typically needs to be at least 125-145% of your mortgage payment. This requirement, known as the rent-to-mortgage interest coverage ratio, ensures you can cover the mortgage payments and associated costs of the property from the rental income. For example, if your mortgage payments are £500 a month, you would need to charge a minimum rent of approximately £625 to £725. However, the exact percentage can vary among lenders, so it's crucial to confirm with your specific lender or consult with a mortgage advisor.
For the most accurate and personalised advice, it's always best to consult with a mortgage broker or financial advisor who can assess your individual situation and guide you through the available options.