BUY TO LET MORTGAGES

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Give us a call if you're searching for a buy-to-let mortgage so we can talk about the finest offers available. We can provide the ideal solution for you whether you are a seasoned real estate investor, or this is your first time buying to rent a home.

Purchasing a home to rent out can be a wise financial decision and improve cash flow. If you're considering purchasing a home to rent out for the first time, I'd advise you to do your research by reading some excellent books on house renting or doing some online research. If you fall behind on your mortgage payments, your home can be taken back.

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The FCA does not regulate commercial mortgages, unless specifically stated, and certain buy-to-let mortgages.

Although there are no assurances with buy-to-let investments like with any other, here are some pointers for people who have more faith in real estate than in stocks and shares.

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1. Research the market:

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• What knowledge do you have about the market if you are new to buy-to-let? Are you aware of both the advantages and the risks?

 

• Ask people you know who have invested in buy-to-let properties about their experiences.

 

• Ask the rental agents in your area what kinds of properties are in high demand.

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2. Choose a promising area

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• Promises do not always translate into the best or the cheapest. A promising area is one where people would like to reside for a number of different reasons.

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• Where is there a unique appeal? Where are there convenient transportation options? Which schools are best for young families? In which area do students choose to reside?

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• While it may seem overly straightforward, these are the most crucial questions to ask yourself in order to make a profitable buy-to-let investment.

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3. Do the math's

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Take a seat with a pen and paper and make a list of the prices of the residences you are considering as well as the estimated rent before you even consider looking at properties. To determine whether the property will be lucrative for you, speak with us to get a sense of what the mortgage costs will be.

 

If you default on your mortgage, your house can be taken back.

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4. Think about your target tenant

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Put yourself in the position of your ideal tenant rather than considering whether you would like to live in your investment property. What do they want and who are they? If they're students, it should be cozy but not ostentatious, and easy to clean. It should be contemporary and fashionable without being ostentatious if they are young professionals.

If it is a family, they will require a blank canvas because they likely have many personal items. It's important to keep in mind that letting renters personalize a space by painting, hanging photos, or removing unsightly furniture makes it feel more like home. This will keep tenants longer, which is fantastic news for landlords. Additionally, it is feasible to take, purchase rent guarantee insurance, which protects you against a tenant's failure to pay rent. We can assist you in setting up this kind of coverage.

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5. Haggle over price

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When it comes to negotiating a discount, buy-to-let investors enjoy the same advantages as first-time buyers. You are not in a chain and pose less of a danger of a sale falling through if you are not dependent on selling one property in order to purchase another. When negotiating a bargain, this can be a significant advantage, particularly in a competitive market like the one we currently inhabit. Make modest proposals and resist the urge to overspend.

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6. Consider how hands-on you want to be

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Purchasing a home is just the beginning. Will you use an agent to find a tenant or will you do it yourself? In exchange for handling any issues and providing you with a solid network of plumbers, electricians, and other contractors in case something goes wrong, agents will charge you a management fee.

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Renting out the house yourself will earn you more money, but you'll have to give up weekends and evenings for repairs, advertising, and viewings. You do not have need a High Street presence when selecting an agent; many independent agents provide good, individualized service.​

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Ask each agent on your shortlist—large and small—what they can give you.