A buy to let mortgage plan however comes with some downsides – the lender will consider not only your monthly income (such as salary) but the rental income from your property. Moreover, buy to let is considered a high-risk mortgage so the interest rates will be a bit higher than the standard mortgages.

Before you select an Investment Property Mortgage Plan

For these reasons, it may be a good idea to look around and consider the rest of the mortgage plans available. In essence, there are several things to watch out for:

– What is the amount of money that you need to borrow? – What is the monthly repayment of your mortgage? – Estimate the rest of the costs involved – such as legal fees, mortgage charges or leasehold taxes. – Consider if you are looking for a short-term or a long terms property investment as this may influence your choice of an mortgage plan. – Does the mortgage come with insurance?

It may be wise to hire a financial professional to help you through the process. He will be able to asses the situation accurately and advise you on the best mortgage plan. Yes, this will cot you some money but the sum you will pay for financial advice will be much less than he losses you may suffer in case you get your mortgage plan wrong.


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