Additionally, you will only get tax relief on the interest part of the mortgage and will be liable for tax on any capital that the rent pays off so don't over pay. IE, The Mortgage is £800 a month of which £650 is interest. If the rent brings in £800 then you will be liable for tax on £150 x 12 =£1800 (minus any bills such as insurance and repairs).
Tax relief is gone on the interest as far as I'm am aware.....
anyhow, anyone can buy a house to let, doesn't matter if you don't actually have your own house. As long as you can afford the deposit then you can buy. You will have to show that you can cover the mortgage as well. The broker will be able to advise. Regarding tax relief as you have a tithe house I don't know what tax implication or benefits are however it is a sound idea to have somewhere to move to when you retire. The first couple of years are a pain in the ass money wise but it gets better over time as, hopefully rental and wages increase.
if you get a house then there are positives and negatives to using an agent.
positives, they deal with all the cack.
negitives, they want their share of the income.
things to note. Percentage is negoitable and also consider insurance if the tenets do not pay. Reads the agency's t's and C's very carefully. If it's not in writing it's not covered, no matter what they say.
depending on where you buy either get a two bedroom or a three bedroom. 1 person in a 1 room house or beds it will, when they get a boyfriend/girlfriend usually move to a bigger place for space. If they rent a 2 bed then they are more likely to stay. A 3 bed is likely to attract a family. 4 bedrooms and above start to move into more specialist areas with less tenants so can be harder to rent out. Depending on where it is.
and of course a lot depends on things like location, business in the area, speak to the estate agents in the area to find out what the market is like and what do people want to rent.