Buy 2 Let Online

:: Finances

Ensure you know the real value of the rental income you can secure from your chosen property. Letting agents often exaggerate rental yields, so contact them as a potential tenant looking for a property similar to yours to get the truth.
Dona EUROS TMt consider buying a property until you are sure you can generate sufficient rental income to ensure you can pay your mortgage and a EUROS servicea EUROS TM the property.

Make sure you have a plan in place which protects you against sharp interest rate rises and rental voids for example, sufficient rental income after paying off the mortgage each month to have an emergency fund.

To get the highest yield from your investment, shop around for the most competitive mortgage deal.

Look at the tax advantages offered by the various types of mortgages - Mortgage Interest payments can be offset as an expense against rental income for tax purposes so you should consider this.

Consider interest-only and repayment optionsa EUROS Many investors choose interest-only mortgages believing that capital gains will provide them with a profit at the end of the period. Consumers need to decide if they want to take this chance or stick to a repayment mortgage.

Speak to a specialist broker a EUROS These companies live and breathe buy-to-let mortgages and are better placed to find you a good deal than companies, which offer more general advice.

Read the fine print a EUROS Make sure you understand any redemption penalties or deed release fees, which apply to your potential mortgage.

Review your finances

Review your redemption penalties a EUROS It may be cheaper to pay the redemption penalties in order to get out of an uncompetitive deal.

Look out for special deals a EUROS To encourage remortgaging, some lenders are offering fee free deals or cash-back incentives, look out for these deals.

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