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With the recent economical cloud still hanging over Britain, there are fewer mortgages available for people considering a buy to let option. With banks being more critical with their criteria which has to be met the majority now ask for a very minimum deposit of 25% on the value of the property to be put down first, and then require a the rental yield to be a minimum of 125% the value of the monthly payments towards the mortgage.

Before entering into the buy to let scheme, you should seek independent financial advice. An unbiased option will provide you with the differing options available from different banks and point out any pitfalls. A mortgage adviser will also advise you to check if your property is leasehold and to therefore check that the lease allows for the property to be rented.

If your mortgage company differs from your building and contents insurer, you must also advise the insurer your property is being rented, otherwise it will invalidate any claims further down the line.