Plan for times when there’s no rent coming in – don’t assume your property will always have tenants. There will almost certainly be times when the property is unoccupied or rent isn’t paid, and you’ll need to have the financial reserves to meet your mortgage payments.
You might also need savings for major repair bills. For example, the boiler might break down, or there might be a blocked drain.
If you’re considering making a buy-to-let investment, talk to us to get specialist advice and to clearly see all of your options.