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Letting a property can be profitable, but there are a few costs landlords often forget. Planning for them upfront keeps your income steady and avoids nasty surprises.
Sometimes, the best lessons come from seeing what can go wrong. Letting a property can be rewarding, but cutting corners or missing key steps can lead to big headaches, costly mistakes and even jail time!
So, you’ve saved your deposit, found your dream home, and budgeted for your mortgage repayments — but wait. There’s a handful of extra costs that can sneak up on you if you’re not prepared. Let’s make sure there are no surprises.
Think you need a huge deposit to buy your first home? Not necessarily. While the old “you need 10% down” rule still applies for most buyers, there are lenders out there offering 100% mortgages — meaning you could buy your first property without putting down a penny in savings.