Buy to Let and go travelling??

swiftpint

My partner and I have been saving up to buy a flat, and now have a decent deposit. However we are now thinking of changing our plans and going travelling for a bit (up to a year).

We aren't sure whether to stick the money in savings accounts etc, or whether to buy somewhere and rent it out whilst we are away. This way we are at least getting a foot on the property ladder. Ideally the rental income would cover the mortgage plus give us some income whilst we are away.

Are we likely to get a buy to let mortgage is we dont have any income besides the rent?

Is this a stupid idea?! Obviously we would have to get an agent to manage the letting.

Is there anything that we should be thinking of?

Thrugelmir

swiftpint wrote: »

Ideally the rental income would cover the mortgage plus give us some income whilst we are away.

Then you maybe severely disappointed, and at worst in serious financial trouble.

swiftpint

thanks for the quick reply Thrugelmir. I though I'd throw it out here whilst crunching some numbers this evening. It is folly.