Buy to Let & Mortgages
Buying a property to let can be a good investment. For buy to let there are risks and considerations that must be taken into account before entering the lettings market. An increasing number of private landlords has meant that there has been an increase in the amount of buy to let property available consequently tenants have a wider choice over where they live. Making the wrong move can leave a potential buy to let landlord with financial difficulties, i.e mortgage payments rental income coming in from property. Consider the following points in your buy to let plan.
You will need a certain amount of capital for a deposit, usually between 15 - 20% of the property value.
A buy to let property in certain areas may prove difficult to let. Research the area before you buy to ensure that you increase your chances of renting your property.
Location, Location, Location. Desirable buy to let properties are conveniently located for public transport, local amenities etc. If letting to the student market proximity to the university is a major selling point.
Charging too high a rent will put off prospective tenants, so research the prevailing buy to let market conditions.
The rental income from a buy to let property will typically need to cover between 120% and 130% of the mortgage payment.
To see what buy to let mortgage deals we
can find for you simply fill in our
Mortgage Enquiry Form
