Buy to let mortgage cost

Getting a mortgage on a property always has related costs. See the costs involved with buying the property and getting a mortgage. There are also some additional costs which are specific to Buy to let properties which are important to budget for.

Insurance : building insurance is a legal requirement when taking out any mortgage, but with a buy to let mortgage you may want to consider some additional cover: such as public liability or white goods policies (remember that insurance can be written off against tax).

Letting Agent : there's a long list of reasons why some landlords prefer agencies to manage their property, and surprisingly one of them is financial. Letting agents often save headaches with tenants and the cost can be deducted from your tax bill.

Furnishings : Decide whether or not you want to let out your property furnished or unfurnished, this will effect what type of insurance you have.

Upkeep : how much you spend on decorating and maintenance is between you and your tenants, but if you look after the property; the chances are that they will too.

Admittedly many of the above costs are difficult to calculate in advance, but as long as you set aside capital to budget for each expense; then you shouldn't come across any unexpected problems.

Download the Buy to Let Mortages PDF Guide here - see our other free PDF guides here

Guide Contents

What is a buy to let mortgage?
Buy to Let mortgage advice
Buy to let mortgage application
Buy to let market research
10 steps to owning a buy to let property
Letting agents
Buy to let mortgage cost
Buy to let FAQ
Where to get more help

main menu << previous page  next page >>