Buy to Let
We offer a fully bespoke service which is designed to meet the needs for those planning to purchase property to rent out (commonly referred to as Buy to Let). So from the initial purchase of the property to the granting of a tenancy you can relax knowing that you are in safe hands.
After you have an offer accepted we will liaise with the estate agents, seller and any lender on your behalf. Our experienced conveyancing team will work with you to make sure that the property is properly investigated and that any concerns you may have are dealt with to your satisfaction. Once you have secured a tenant we are on hand to prepare the appropriate tenancy agreement which will provide you with adequate protection as the landlord.
Unfortunately you may occasionally find yourself needing to remove a tenant who has not complied with his obligations under the tenancy. Our expert property litigation team can guide you through the necessary process to terminate the tenancy and handle the matter in an effective and efficient matter.
Points to note when buying a buy to let property: –
- The key point that a buy to let investor must consider is the yield on the property. This is the potential annual rental income that their tenant will pay to them. The net return is the amount the landlord is paid less all their costs including for example insurance.
- When choosing mortgage finance you need to be aware that most lenders require rental income to cover 125% of the mortgage repayments. It is often better to seek finance before looking for a property so you know how much you can borrow and what yield your lender will ask you for before lending you the money.
- Do not be tempted just to buy near where you live as yields may be better in different areas of the country and it is worth researching this.
- Consider always ongoing yields not necessarily future growth potential on the capital of the property.
Buy to Let investors – if you wish to deposit copies of your I.D. with us we can deal with the money laundering requirements of the agents as you buy your properties.
For more information or queries on how we can help you with your Buy to Let, please contact Andrew Murfin or telephone 01905 744995.