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Costs to Consider with Buy to Let
CathalMcCullagh
Posts: 1 Newbie
I am interested in buying a property, with a view of Buy to Let, as a long term investment. Currently I am renting, but hope to buy or build in the very near future.
The house I am viewing has a mortgage of approx £400/Month and current rental income is £700/Month, with long term rental a on this house a viable option.
I would hope to invest in more buy to let houses if this was a success.
What costs/overheads do I need to factor in which may have an impact? ie mortgage, tax, insurance, rates, etc
The house I am viewing has a mortgage of approx £400/Month and current rental income is £700/Month, with long term rental a on this house a viable option.
I would hope to invest in more buy to let houses if this was a success.
What costs/overheads do I need to factor in which may have an impact? ie mortgage, tax, insurance, rates, etc
0
Comments
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Maybe you should do some research then ask specific questions, rather than let others post up your business plan. You will no doubt need a residential mortgage and your own property before you will be able to get a buy to let mortgage on a second property.
You are probably better off forgetting becoming a landlord and buy yourself a house first and build up savings.0
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