5 things to consider before you apply:
- Define your goal: are you looking to rent out the flat for a longer period of time or will it be a short-term investment?
- Work out the potential rental income and costs, including any unexpected costs and planned renovation works in the building. There are many calculators online which can help you with this..
- Assess the impact of property investment on your personal finances – make sure you can afford the self-financing share and have a savings buffer in place. Read more about the loan cap and how to hedge your loan against unexpected events and rising interest rates.
- Learn about the risks. It’s important to fully understand the risks related to property investment, including how you will be able to cope financially if the rent is not paid or if the flat sits empty.
- Before committing to buying to let, you need to have a realistic view of the prices of flats and the rental market. Seek out data and look into the flats and amenities available in the area as well as how prices have evolved.