Buy to let means to buy a property in order to let or rent it out so that other people can live in it as your tenants. As the landlord, you will have legal responsibility for maintaining the property.
Before you commit to a buy to let investment, you should:
As well as the cost of repaying a buy to let mortgage, you will need to think about:
You can potentially earn profit, on which you pay tax, through:
If you sell your property and the capital growth is more than the annual capital gains tax threshold, you will need to pay capital gains tax.
If your rental income is more than your mortgage interest payments and certain other expenses, you will have to pay income tax.
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