Buy to let Purchase:

Purchasing a property to Let:

Property can be an excellent long-term investment and offers the potential for good capital growth and potential income. Many people invest in a buy to let property as a part of their pension provision and increasingly our clients are building portfolios of property and using the income generated from rental as their main income.

Our Service...

Speed is the essence... When you find the right property you need to move quickly, we understand this and in many cases we are able to have your Buy to Let mortgage agreed within a matter of hours. We research the best mortgage from the whole mortgage market and when you are ready to proceed we will process your application with no broker fee.

Frequently asked questions

What type of property should I purchase?

When considering an investment purchase, especially for the first time, you should select a property that can be sold on again easily. If you decide that being a Landlord is not what you expected, then you will want to be able to sell the property on quickly. Both houses and flats are suitable investment property but some ex-authority flats can be difficult to finance. Properties in up and coming areas often represent good value, but consider whether you will find Tenants who want to live in the area; consider, if you would wouldn't live in the property will other people?

Where should I buy?

If you intend to manage the property yourself there is a strong argument that you should look to buy a property locally. If you are attracted by strong rental returns outside of your immediate area you might consider using a letting agent.

How to find a Tenant?

In many parts of the UK there are strong demands for rental property. Several websites now offer Landlords the ability to advertise property without charge. Simply placing an advert in a local newspaper will often bring in more enquiries than you might expect.

Referencing a new Tenant?

If you intend to find your own Tenant, its down to you to check their references and ensure they are an acceptable credit risk. It is now possible to check a Tenants history online for a nominal fee (example: www.credit-check-services.co.uk). Once you have found a suitable Tenant you will need to organise an Assured Shorthold Tenancy (AST) Agreement, this document lays out the terms of the let.

Should I use the services of a letting agent?

As a general rule, if you are not in the vicinity of the property or are a first time Landlord, then it is probably a good idea to use the services of a letting agent. If you are going to use the services of an agent it is advisable to choose one that belongs to one of the main Associations such as ARLA. A letting agent will find a suitable Tenant, reference the Tenant and draw up an AST agreement. Additional services offered by Letting Agents might include:

• Organising Electrical and Gas Safety Checks
• Checking the new Tenant into the property
• Collecting the rent
• Organising essential repairs to the property

If you intend to use a letting agent to can expect to pay anything from 8% for a tenant finding service to 15% if you want them to fully manage your property.

Is there a limit to the number of properties that I can own?

You can have as many properties as you can afford!

I have a large residential mortgage?

Even if you have a large residential mortgage you can still obtain a buy to let mortgage. The lenders are more concerned about the rental return and the deposit you provide, not your existing borrowing.

Is there more I need to know?

In a word yes, we have covered some of the basic questions a first time Landlord might have but there is no substitute for individual advice. Call one of our advisers for a free and no obligation chat about your plans: 0800 756 9556

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