If you’re an experienced landlord or just starting out, you’ll have specialist requirements that set you apart from a standard residential purchaser. We can access the major lenders in the Buy To Let market including those specialising in lending to professional landlords and consumer buy to lets. We’ve also developed relationships with general insurers who’ve designed specialist landlords buildings and contents policies.
Buy To Let Advice you can depend on
Besides the monthly mortgage costs, potential landlords should carefully consider the ongoing costs of owning the rental property.
These additional costs may include:
- Ground Rent/Service Charges – These costs only apply to leaseholds.
- Property Maintenance – The upkeep of the property itself.
- Letting Agent fees – If you need management of your property.
- Buildings /Contents Insurance – Property will need buildings insurance.
- Appliance Safety and Inspection – Appliances may need to be inspected
- Legal insurance – To cover costs involved in pursuing possible eviction.
Buy To Let mortgages are designed for property investors and private landlords, who do not intend to live in the mortgaged property.
Buying additional property for the purpose of letting it to earn rental income can be risky and complicated since there is no guarantee that house prices will rise nor that rental income will be uninterrupted.
On the upside, letting a second property to tenants could return great financial rewards over the longer term, but it’s important to properly consider the risks, as well as rewards, involved in ‘Buy to Let’ first.
We hope we have given you a broad insight into what’s involved in a Buy To Let purchase. There are many types of mortgages available, numerous additional things to think about and costs to bear in mind. If you’d like more information, or would like help planning your Buy To let property purchase, please get in touch.
Your home/property may be repossessed if you do not keep up repayments on your mortgage
Some buy to let mortgages are not regulated by the Financial Conduct Authority.