I'm in my thirties and am considering buying my first buy-to-let property. I already own a small flat in the south of England which I live in.

I've read that buying a property in the north of England could be a good investment and provide me with strong returns.

Is now a good time to enter the buy-to-let market? What factors should I take into consideration? I've seen reports about changes coming in, but haven't delved into the details yet.

Is now a good time? A Daily Mail reader is considering becoming a buy-to-let landlord for the first time, and thinks he has spotted an opportunity in the north of England

Jane Denton, of the Daily Mail, replies: In the current climate, there is a lot to consider before becoming a buy-to-let landlord for the first time.

Recent data from the Bank of England showed the number of buy-to-let loans agreed between June and August fell by 12.5 per cent compared to the previous quarter.

Landlords have been viewed as targets for boosting the Treasury's tax-take in recent times.

Since April 2020, landlords have not been able to deduct any of their mortgage expenses from their rental income to reduce their tax bill. Instead, landlords now receive a tax credit, which is based on 20 per cent of their mortgage interest payments.

They are also subject to a 5 per cent stamp duty surcharge when they buy properties, which is something you need to factor in.

There is speculation Rachel Reeves could use the Autumn Budget to target landlords further, potentially imposing National Insurance on the money they make from rent. At this point, it is not known whether this move will or will not be implemented.

If you go ahead with your buy-to-let plan, you will also need to factor in the impact of the Renters' Rights Bill.

Once the bill becomes law, Section 21 'no-fault' evictions will be banned, tenants will be given greater rights to challenge rent rises and it will be illegal to discriminate against prospective tenants on benefits. Data shows some landlords are selling up ahead of the bill coming into force.

However, there are plenty of people who are still interested. Millennials like yourself comprised a record 50 per cent of new buy-to-let investors in England and Wales in the year to date, figures from Hamptons showed.

Your plan to look north could also be fruitful. Data from Zoopla in September said Aberdeen, Burnley and Sunderland topped the charts for the highest rental yields in the UK, with average gross yields over 8 per cent.

I asked two property experts to take a look at your question.

Many investors are now looking north for stronger rental yields, Liam Gretton says

Liam Gretton, owner of Liam Gretton Bespoke Estate Agent on the Wirral Peninsula, says: Entering the buy-to-let market in your early thirties is a strong financial move, providing it is done with the right research, support, and expectations.

With one property under your belt, you have got an insight and initial foundation to build on.

You are right that many investors are now looking north for stronger rental yields.

Property prices in parts of the north west, Yorkshire and the north east remain far more accessible than the south, while rental demand continues to rise, especially in cities like Liverpool, Manchester, Leeds and Newcastle.

Commuter belts and regeneration areas can all offer promising long-term returns if you choose wisely.

However, when it comes to the question of is now a good time, the answer depends on your strategy and financial position. Buy-to-let is not quite the easy win it was a decade ago.

If you are prepared and thinking long-term, now can still be a smart moment to start. Mortgage rates are higher, and there is more regulation than ever before. However, that also means we are seeing a healthier, more professionalised rental market and long-term investors with a smart approach can still do very well.

There are some key points to consider before jumping in.

Financing: Buy-to-let mortgages typically require a 25 per cent deposit and will be subject to stress testing. Work closely with a broker who understands the market. Make sure the monthly rent can cover the mortgage comfortably, even if rates increase again.

Buy-to-let is not quite the easy win it was a decade ago

Rental yields versus capital growth: Northern properties often deliver better yields, or monthly returns, on your investment, while southern homes tend to see stronger long-term capital growth. Identify what is more important for your situation: cashflow now, or building equity over time.

Tax and stamp duty: You will pay a stamp duty surcharge, and need to be aware that mortgage interest relief has been scaled back significantly.

Many landlords now purchase through a limited company structure to maximise tax efficiency, however this comes with its own pros and cons, so always speak to a specialist before making any decisions.

Tenant demand: Always buy with the tenant in mind, rather than what you want from a home. Is the area walkable, close to transport, universities, or employment hubs? A high-yielding area is useless if you struggle to find or keep good tenants.

Read More Will the Renters' Rights Bill get me out of my tenancy contract early?

Regulation and legislation: Landlords are now required to meet stricter energy efficiency standards, licensing in some areas, and the Renters' Rights Bill will see Section 21 'no fault' evictions scrapped.

It is important to stay informed or use a professional, well-reviewed and industry-educated letting agent who can guide you through the compliance minefield.

Maintenance: If you go ahead, you will need to budget for repairs, void periods and management costs, especially if you live in the south and plan to invest hundreds of miles away.

Ultimately, buy-to-let is no longer a hands-off income stream. However, done well, it remains one of the most powerful investment vehicles for long-term wealth building.

If you are willing to treat it like a business, surround yourself with the right advisors, and think long-term, then, yes, now could be a great time to get started.

Jeremy Leaf, a north London estate agent and a former RICS residential chairman, says: The prospect of stricter buy-to-let regulations and higher costs have been driving many landlords out of the business.

Others are switching from London and the south east to the north of England where property prices and mortgages are cheaper, returns tend to be higher and the impact of tax rises less costly.

Concerns about additional, not just property, taxes in the forthcoming Autumn Budget have resulted in slower sales and uncertainty. More confidence will hopefully return once economic policy is clarified after the end of November.

However, buy-to-let can still prove to be a good investment if you do your research and go into it with your eyes open.

Assume higher costs and longer voids than expected, Jeremy Leaf says

It should be regarded as a long-term investment and there is a lot to think about, including where to buy, how much to pay, anticipated rent and return, strength of demand and how much you want to be personally involved.

Will your target tenants be students, young professionals or families? Properties which remain empty for extended periods will compromise returns and quickly eat into any profits, so you want to avoid this as much as possible.

You will need to factor in purchasing costs, as well as ongoing charges such as long and short-term maintenance and possibly cladding, insurance and letting agent fees.

Newer properties tend to require less work and maintenance. If you are based in the south and buy in the north, self-management may prove to be a false economy.

A minimum E Energy Performance Certificate rating, and gas, electrical, fire and furniture safety certificates will be required too.

The Renters' Rights Bill, which will almost certainly be introduced later this year, will add to the 168 rules and regulations which already impact residential lettings and management.

No-fault evictions will be banned, with fixed-term tenancies becoming periodic and rent rises limited to once a year.

Subsequently, it will be harder to take back a rental property if problems occur, and better-quality tenants will be more highly prized so robust referencing and inventories will be even more essential.

If you buy a house in multiple occupation there are other rules and regulations to consider, depending on the location of the property.

Another consideration is whether to buy in your own name or via a limited company and this requires independent mortgage and tax advice.

Nothing stays the same - circumstances change and trying to anticipate change in and around government policy is tricky.

It is safe to assume higher costs and longer voids than expected, so make sure you pay for a survey and seek advice from local agents with appropriate knowledge and experience.

How to find a new mortgage

Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible.

Buy-to-let landlords should also act as soon as they can.

Quick mortgage finder links with This is Money's partner L&C

> Mortgage rates calculator

> Find the right mortgage for you

What if I need to remortgage?

Borrowers should compare rates, speak to a mortgage broker and be prepared to act.

Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it.

Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees.

Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone.

What if I am buying a home?

Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be.

Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power.

What about buy-to-let landlords?

Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages.

This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too.

How to compare mortgage costs

The best way to compare mortgage costs and find the right deal for you is to speak to a broker.

This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice.

Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs.

If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you.

> Find your best mortgage deal with This is Money and L&C

Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.

Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage

Should I purchase my first buy-to-let in northern England?