Being a landlord is an exciting and potentially lucrative venture, but one that requires careful financial planning.
The first hurdle is obtaining a mortgage to fund your purchase; these come in many shapes and sizes.
For an overview of the options available, whether Repayment or Interest Only in basic payment structure, see Types of Mortgage and for information on your interest repayment options, see Types of Interest Repayment.
To get the best deal, finding the right lender or broker is essential.
Your costs as a landlord do not stop at a mortgage, however. You need to budget for some outlay pre-tenancy on such matters as legal fees and advertising your property. Once the property is occupied, there will be some further costs, on general administration (such as key cutting or inventories), insurance, maintenance and repair, to name but a few. Even in unoccupied periods, you should allow for some spending on repair works, as well as heating and lighting when showing the property to potential tenants.
Property Repairs in Dorset/Hants
