Buy to Let

Investing in property has become a popular option in recent times. Whether you are an experienced private landlord or this is your first venture into property investment we are on hand to help you through the process.

There are two different types of Buy to Let mortgages  – Consumer Buy to Let mortgages where you have lived in your property in the past and are now thinking of letting it, and Business Buy to Let’s aimed at Professional landlords.

There are several things to think about when looking at investing in a buy to let property:

• You will need to have a deposit that has been saved or raised by you.
• The amount you can borrow will be determined by the rental income the property can achieve, as well as your personal income.
• You will have the usual costs involved in purchasing a home such as valuation fees, solicitor’s fees and [higher rate] stamp duty.
• When looking at your budget; you will need to allow for costs that the property may incur over time. These would include maintenance and general wear and tear, fees payable to any letting agents, ground rent and service charges (for leasehold properties), the possibility of providing furnishings and the carrying out of inspections to appliances annually (such as boilers) to make sure that they are safe. You will also incur income tax on your profits from a property that is not your main residence.
• You also need to consider the additional costs involved when you dispose of a property such as estate agent fees, solicitor’s fees and taxation such as Capital Gains Tax.

We can assist you in purchasing or remortgaging a Buy to Let Property.

You will also need to consider insurance for the property; you will need buildings insurance when you have a freehold property. You may also want to consider legal insurance in the event of any difficulties with tenants and rent guarantee cover.

Please speak to your Accountant regarding the tax implications of investing in property.

We aim to make the process of you either buying an investment property or re-mortgaging as easy as possible for you.  Although some Buy to Let mortgages are not regulated by the Financial Conduct Authority, we need you to provide the same level of documentation to us to prove your income, your available deposit and for properties you already own, proof of your rental income.