Ten years ago if you ad a second property which wasn't near the seaside your second property would have been classed as a commercial mortgage and the bank would have added 3% to the loan you would have had.

Today, it a little different as now you can buy as many properties as you like , providing you have a minimum deposit of 15% and you are employed or self-employed earning over #25,000 and providing the rental income you will receive will be enough to cover the mortgage then you should be okay. Most lenders will require that the rental income be 125% of the gross monthly mortgage payments.

They require the property be rented on an Assured Short hold Tenancy Agreement, these are normally for 6 months duration but can also be for 12 months.

The surveyor that goes out to value the property will put down a price for the property and will also submit a rental estimate, which the lender will go by.

Most lenders will look at your existing mortgage record to heck for a good payment record.

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