Consult with your accountant

In many cases there are tax allowances and deductions which can be taken against rent that you receive. Your usual and customary expenses, including maintenance, insurance, cleaning and landscaping, as well as other recurring expenses likely apply. While you may not deduct actual cost of your initial improvements, subsequent repair and replacement of those improvements likely will be deductible. In some cases you can take a flat 10% of rent as a deduction against normal wear and tear. The tax maze can be very complicated so be sure to let your accountant help you navigate it.

During buy to let mortgage loan process

If you are using a mortgage broker then you will not have to jump at first approval that you receive. The chances are you will be presented with multiple offers. Read each one over and set aside ones that are so far away from your expectations that even intense negotiations could not make offer better. Re-read remaining offers and make a list that details good and bad points of each one. Send offers and your list to your solicitor and have him review contract and your concerns.

Once you are through with that step its time to negotiate. Depending upon level of service that your broker provides you can either have them handle negotiations, or you can hire your solicitor, or you can do it yourself.

What can/should be negotiated? Anything from term of loan to interest rates, pre-payment or early cancellation fees, payment due dates, lender's fees, fixed and variable interest rates, items of concern found by your solicitor and anything else that doesn't strike your fancy first time out. There is no risk to attempting to negotiate and you can always be sure that you will NEVER get what you want if you don't ask for it.

Buy to let mortgages used to be very hard to obtain and only people who didn't really need money were able to get approval. This is no longer case. Competitive lenders, especially those lenders who work with buy to let mortgage brokers, realize that market for residential and commercial property letting is on rise again. Now is right time to find a broker and get busy building your investment portfolio of properties.

About Author

Commercial Lifeline are independent Commercial Mortgage brokers saving you money on your Commercial Mortgage and Bridging Finance through lender choice.

Download our free Commercial Mortgage guides by visiting our Commercial Mortgage Guide page.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that link above is intact.

Commercial Lifeline are independent Commercial Mortgage brokers saving you money on your Commercial Mortgage through lender choice.

No doubt you are most interested in how money is paid out! We certainly are at www.winthatlotto.com ! Essentially, you will win £10 for matching any 3 numbers. This is quite a large chunk of cash to be paid out, because odds on that are about 1 in 57. Of remaining money, 22% is paid to tickets that match 4 numbers, 10% is paid for matching 5 numbers, 16% is allocated to tickets that 5 numbers and 'bonus ball', and a whopping 52% plus any rollover is paid to any tickets matching all six numbers.

The odds on these lower prizes are quite easy to work out, being 2.3 million to 1 to get 5 balls plus bonus lotto ball, 55,550 to 1 to get 5 numbers right, 1,030 to 1 to hit 4 lottery balls correct, 57 to 1 for a £10 3 ticket win, 7.5 to 1 to get 2 numbers right, and 2.4 to 1 to get 1 or no numbers right. So there you have it. Good luck with your lotto picks!