Furnishings should be neutral. Because you like a certain colour does not mean someone else will. Walls should be kept to magnolia or white, making them easier to paint over at the end of each tenancy. There is a fine Read more…
Firstly, it is imperative to not allow personal taste to cloud your judgement. The first question should be: will a range of people who live in this area want to rent this property out? The property is not for you Read more…
Some lenders may offer other buy to let mortgage loans, but this list details some of the most common types: Fixed Rate Buy to Let Mortgage Variable Rate Buy to Let Mortgage Capped Buy to Let Mortgage Minimum Status Buy Read more…
Although in theory a buy to let loan is secure because of the rental yield and the capital value stored in the property, in reality the higher the risk you represent to the lender the higher the interest rate is Read more…
Most lenders will expect that the rental income on the property will exceed the mortgage repayments. The level at which this becomes acceptable varies between lenders. Some lenders will consider the rental income, whereas others will only be interested in Read more…
A Buy to let mortgage does not differ massively from a standard private owner-occupier mortgage. Borrowers taking out Buy to let mortgages are subject to standard checks. If you have an ARLA member agent responsible for letting and managing your Read more…
The first step in the buy to let ladder is finding an appropriate property. Once a property of appropriate price has been found, it is necessary to assess whether it has the potential to be let out, how much can Read more…
The advantages of taking on a registered letting agent are numerous. They will know how to communicate with lenders. Furthermore, they will know the market in the area in which you are buying. This can be essential, because the type Read more…
Before taking into account all of the costs of letting, which can soon add up, the gross return should be between 7 per cent and 10 per cent. Capital appreciation is likely to match, if not exceed, inflation rates for Read more…
In the past, a landlord wishing to take out a mortgage on a property for the purpose of producing an income would be viewed by a lender as having a commercial interest. This used to result in higher rates of Read more…