First Time But-to-Let buyer questions

[DeanZ]

I've managed to round together enough £ to use as a deposit on my first property investment, as a result i have a few questions i believe and hope someone out there could answer for me:

In terms of mortgages, am i required to use a specific BTL mortgage, or as this would essentially be my first house could i get away with using a regular household mortgage?

I also understand (correct me if i'm wrong) that the rate of tax for rental income in the UK is 40%, if i was to use a company to invest in the property (and future properties) would i benefit from avoiding such a high rate of tax?

Please excuse the simplicity of the questions, i just find real answers from real people better than contradicting information plastered all over the web!

DeanZ

 

[bmar71n]

also there may be great opportunity in smaller second "first time buyer' homes as no or very few first time buyers will be buying second hand stock now since the introduction of 'first buy' and it only applying to new homes.