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The Mortgage Advice Center is part of Anderson LLoydLLP which is directly authorised and regulated by the Financial Services Authority.

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Mortgage Advice Center - Buy To Lets

 

financial_advisorBuying a property to let out has been very popular over the past 10 years. Like any investment returns are not guaranteed but many people have invested in bricks and mortar as apposed to stocks and shares looking for growth.

First thing to do is to research the market make sure that buy to letting is right for you. Talk to people you know who are already doing it, contact us to talk through the options so you know exactly what your investment entails.

It is essential to choose a promising area, somewhere where people want to live. Where has a special appeal? what rental properties are in demand in the different areas, is an area already saturated with rental properties. Know your tenant so that you can cater the property to their needs.

Do the math's make sure that the rental income that you are getting, will pay off the mortgage, traditionally mortgage lenders wanted rental income to cover 125% of the mortgage although this is now relaxing. Interest rates are reducing for buy to lets.

It is essential to take into consideration what will happen if your property is empty for a couple of month's, will you still be able to pay the mortgage?

Contact the mortgage advice center to find the best buy to let mortgages on the market to ensure that you are making the most money.

 

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Think Carefully when securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.