Buy to Let Mortgages

Buy to Let Mortgages

Are you looking for a buy to let mortgage? Give us a call, and we can help you find the best deals on the market. Whether you are an experienced property investor or are looking for your first buy to let, we offer the service that is right for you.

Buying property to let can be a good investment and help with cash flow. If you are thinking about purchasing property to rent for the first time, it is advisable that you do your homework. A good start is the book Rich Dad, Poor Dad, by Robert Kiyosaki, but below are a few tips to help get you started.

The FCA, where mentioned, does not regulate all by to let mortgages and, does not regulate commercial mortgages.

As with other investments, there are no guarantees with buy-to-let properties, but for those who prefer to put their faith in bricks and mortar rather than stocks and shares here are some tips:

1. Research the market:

  • • If you are new to buy-to-let, what do you know about the market? Do you know the risks, as well as the benefits?
  • • Ask people you know who have entered the buy-to-let market. What can you learn from their experience?
  • • Local letting agents know which types of property have the highest demand. Ask them what kind of property works best as a buy-to-let.

2. Choose a promising area

Promising does not mean the most expensive or cheapest. Promising means a place where people would like to live, and this can be for a variety of reasons.

Where has a special appeal? Are there good links to public transport? Where do students want to live? Are there good schools for young families nearby? Asking yourself these questions might sound over-simplistic, but it is probably the most significant aspect of a successful buy-to-let investment.

3. Do the maths

Before you think about viewing properties sit down with a pen and paper and work out the cost of houses you are looking at and the potential rent you are likely to get. Speak with us to give you an idea of mortgage costs so you can work out if the property will be profitable.

4. Think about your target tenant

Rather than imagining whether you would like to live in your investment property, put yourself in the shoes of your target tenant. Who are they? What do they need? Students need it to be easy to clean and comfortable, but not luxurious. Young professionals will want somewhere modern and stylish, but not overbearing. Families will typically have plenty of their own belongings and will want a blank canvas. Remember that allowing tenants to make their mark on a property, such as adding pictures or painting, or taking out unwanted furniture makes it feel more like home. Tenants who make your house their home will stay for longer, which is excellent news for a landlord.

It is also possible to take out an insurance policy to protect yourself against your tenant failing to pay the rent, generally known as rent guarantee insurance. We can help you arrange this type of insurance.

5. Haggle over price

As a buy-to-let investor, you have the same advantage as a first-time buyer when it comes to negotiating a discount. By not being reliant on the sale of a property to buy another, then you are not part of a chain and represent less of a risk of a sale falling through. This advantage can be a sizeable asset when negotiating a discount, especially in challenging markets such as the one we have now. Make low offers and do not get talked into overpaying.

6. Consider how hands-on you want to be

Buying a property is only the first step. Will you get an agent to rent it out or do it yourself? Agents will deal with any problems and have a good network of plumbers, electricians and other workers if things go wrong. However, agents will charge you a management fee for their services. You can make more money by renting the property out yourself but be prepared to give up weekends and evenings on viewings, advertising and repairs. If you choose an agent, you do not


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