In the first all-Conservative budget since 1997, the Chancellor, George Osborne, announced in the summer that the amount of tax relief that landlords will be able to claim on the interest of their mortgage payments will be reduced.Read on
: Archive - October 2015
There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.