Understanding the Buy to Let Market

Before purchasing a property it's important that a borrower does research into the type of property they wish to buy, the area where it is located, property demand, rental income and construction and building works.

Advice for Landlords

There are numerous considerations for new landlords aiming to move into the rental market. These include the work associated with property refurbishment and ongoing maintenance, ancillary costs such as landlord insurance and stamp duty, and the process of ensuring the property meets compliance standards. In addition, the tax implications should be considered before entering into the BTL market or for additional purchases. We always recommend speaking to a suitably qualified tax advisor first.

The Hidden Costs of Buy to Lets

A mortgage quotation will provide the obvious costs for a BTL mortgage but what about the other costs of being a landlord? And there are many costs, some one-off, others annually or less frequently. These can include an Energy Performance Certificate, Electrical Safety Report, Gas Safety Certificate, Smoke & Carbon Monoxide Alarms. Some of the more obvious ones would include, income tax, letting agent fees, landlord licences, landlord insurance.