Thinking of becoming a landlord – we aim to help with our buy to let advice.

Maybe you’ve thought about becoming a landlord and renting out property but didn’t know where to start.

Well let Pacific Financial help – it may be easier than you think.

Buying a property to rent has become popular with some investors over recent years, so many lenders now offer “Buy to Let” mortgage schemes.

There are lots of reasons why people consider entering the Buy to Let market. In recent years the low interest rates have made it more affordable for some investors.

You may achieve a steady income from rental, however, you should be aware in periods when the property is not tenanted you are responsible for the repayment of the mortgage.

In terms of investment a house has lots of potential opportunity for capital growth (be aware property prices may fall as well as rise).

With many Buy to Let schemes you are often not required to prove your income as lending is calculated on the anticipated rental income. Usually you will have to have a minimum of 20% deposit although some lenders may ask for more.

If you do not have the deposit available it may be possible to raise some or all of the money by
remortgaging your existing property.