If you are serious about buying property and letting it out there are new rules by the regulators (Government) that will affect you so study these rules to make sure that you don’t get yourself in to any trouble, if you manage the properties yourself make sure you register with the governing bodies, there are lots of thing to know but once you do it is really quite good fun, Buy-to-let Mortgages have a different criteria to say residential Mortgages, they are classified more as commercial, so you will pay a higher percentage rate for a start, the Big hurdle is of course the deposit the majority of lenders are looking at around 25% (75% loan to Value) and don’t for get all the other cost involved, stamp duty solicitors fees valuations and so on, Bit if you are serious about building a good pension pot then speak to an Independent Financial Advisor (IFA) don’t waste your time talking directly to a bank as they will only offer “What” they have and not “What” you want, the IFA will advise you on how to incorporate your property into your pension, the various possible tax breaks and Trusts that will protect you from the inherencies rules and the taxman.
With regard to post No 3 with good planning, Mortgage and IFA broker advice, now is a very good time to buy
Good luck |