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What to Consider Before Investing in Buy-to-let Properties in the UK
Throughout the UK, there are an estimated 1.5 million private landlords letting out a property to a tenant. This number has continually increased over the last several years, for a variety of reasons. Homeowners have recognised their ability to generate income from letting, while renters have grown in number due to rapidly rising homeownership costs. With these factors in mind, many consider their options for investing in buy-to-let properties, particularly as interest rates on mortgage loans remain relatively low.
 
Becoming a private landlord through a buy-to-let scheme comes with added responsibilities, above and beyond what one might expect as a residential homeowner. Here are several considerations to weigh before joining the rank of landlords in the UK by investing in a buy-to-let property.
 
Knowing the Numbers
 
When thinking about purchasing a property to let out to someone else, certain financial factors must be considered before signing on the dotted line. The process for purchase a property is the same in many cases as it is with buying a home in which to reside, but higher costs are involved for potential landlords. Most lenders want to feel confident in the buyer’s ability to maintain the monthly mortgage expenses, and so, a larger contribution up ... more

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