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You have probably heard about all the good things about buy-to-let mortgages but what are the risks? What do you need to be cautious of when investing in property?

The first thing to remember is that your buy-to-let loan and your residential mortgage are not mutually exclusive. If you fall behind with your residential mortgage payments then you may put your rental property at risk, and vice-versa. That is why it is so important to get professional mortgage advice before taking out a rental loan – if your loans can't work together then they cannot work at all.

You also have to know that you need to be able to show that your rental income covers 125% of your mortgage repayments in most cases. This means choosing a success property in a good position is as important as getting an affordable loan – picking a property that doesn't attract renters means you will not be able to pay your loan. So it's important to have a good estate agent, to do your homework and make sure for certain that the property you want will deliver results.

Just like a residential loan, if you don't pay the mortgage you risk having your property taken from you. Of course, if you have tenants living in your property that just adds to the responsibility – being a landlord means making sure you are comfortable but also your tenant is comfortable too as they are your lifeblood and without them you can't pay your mortgage.

You also have to be sure that you have a good letting agent because if your property is empty for any period of time, you will suffer. Even if you have a prime property in a great position without a good letting agent no one will know its available for renting and you will be forced to pay the mortgage from your own pocket. Buy-to-let is a whole process, and all the aspects of that process need to work properly for your investment to succeed.

Being a buy-to-let investor is a lot of work – on top of all this are reams of regulations and forms that have to be filled in to satisfy that you are a legal and safe landlord. But with a good buy-to-let mortgage and a good financial plan all the other problems will not seem as big and will be a whole lot more manageable. Talk to a buy-to-let mortgage adviser about getting on the right track with the right buy-to-let loan.

To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog