Buy to Let

[Lockhouse]

The only way a BTL will work is with Multiple Occupancy. This is a little more difficult to get into and you have to get a license from the council (put in fire doors, connect smoke detectors to the mains, ensure fire escape routes etc etc).
(

This requires a lot of work and is a lot of hassle dealing with 3 or 4 times as many tenants. As well as the problems dealing with "the lower end of the market"...

[threaded]

A lot of the hassle is removed by only taking older gentlemen. Single women and young blokes are problematic. Single professional woman, nurses etc. are an absolute menace, and they wonder why it is so hard to find somewhere cheap to live. It's cause you're trouble darlin' innit.

[ChimpMaster]

Yes MO is a bit more work but you get 50% more rent and also your exposure/risk is reduced because if you lose 1 tenant you still have 4 others to cover the mortgage.

[Tool]

Does it make any sense at all to get a BTL mortgage now? Is it still a viable investment? At todays prices, will rents even pay an interest only mortgage?

Yes, as long as you put a high deposit!
Anyway, a lender will only lend you as much as you can repay by letting the property. They are very strict about that.
It is still possible to lend 85% of the house value in some regions, like the North...

I ask as I have friends that are getting into BTL now and swear it is still the only sensible thing to do "for the future".

Be extremely careful about people trying to sell you new builts with "investor package", 5% deposit paid + stamp duty paid, mortgage arranged, etc. The truth is the price of new builts are usually inflated, so you may need around 5 years to have the market reach the price you actually paid! You may find this painful when switching to the SVR after 2 years!
Strangely enough, their rental calculations seems to fit perfectly in the mortgage repayments!...