Things you need to know
The lender will not only assess affordability based on your incomings and outgoings but will also
assess the viability of the property for rental income.
The rental income will also need to pass the lenders stress tests - that
is to say the rental income will not only have to cover the mortgage payments but leave some over to cover unexpected
tenant free periods and property maintenance. The amount of required margin differs from lender to lender.
You can expect to pay considerably more stamp duty on your purchase than you would for a first
property you intend to live in.