Most lenders require at least a 25% deposit, but some may accept as low as 20%.
Yes, lenders assess rental income to ensure it covers mortgage repayments, often requiring a rental yield of at least 125-145% of the mortgage payment.
Rental income is taxable, and landlords may also pay Capital Gains Tax when selling a property. Mortgage interest tax relief has also changed in recent years.
It’s possible but more challenging. Some lenders prefer applicants who already own a residential property.
Yes, buy-to-let mortgages typically have higher interest rates than residential mortgages due to the increased risk for lenders.
Consider factors like location, tenant demand, rental yields, property condition, and potential for long-term growth.