Renting property to tenants should not be seen as an easy way to make money – it can take time and house prices are not guaranteed to rise. However, over a long period of time, there could be massive financial rewards to enjoy.
You can usually get a buy to let mortgage if you already own your own home, earn more than £25,000 a year, you’re a certain age, you have a good credit score, you can afford to take a risk and you want to invest your money in property.
The Financial Conduct Authority does not regulate most Buy to Let Mortgages.
A few of the key differences between buy to let mortgages and others is that deposits are likely to be much higher – at least 20 per cent.
It is also worth planning for times when you may have no income as your property is not always guaranteed to have tenants.