Buy to let

By Lee Langridge on

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Top tips for Buy-to-Let investors

If you’re thinking of taking out a buy-to-let mortgage product, we’ve put together our top tips that will help you make the right decision when it comes to buying an investment property.

Buy-to-let top tips:

Do your homework

A buy-to-let mortgage is a great way for landlords to secure a rental property investment, but you need to be sure it’s the best use of your money. Do your research and compare how your money might perform if you invested it elsewhere. Remember that a buy-to-let investment will mean tying up your capital in a property that might fall in value.

Location, location, location

Just because a property is in a good location, it doesn’t follow that it’s the best place for your buy-to-let investment. You’re looking for an area that people will want to live in for all sorts of reasons.

Students, young families and commuters all have different needs so if you can match their requirements with a property that you can afford, you’ll have a better chance of finding a tenant that will make your investment work harder for you.

Do your sums

Research the properties on sale in the area you’ve decided on and explore the rent that you’re likely to achieve each month. Factor in insurance premiums and maintenance cost and remember that if your property is empty for any reason, you’ll still need to make your buy-to-let mortgage repayments.

Landlord obligations

You’ll need to decide whether you’re going to be a hands-on landlord or will appoint a property management agent to carry out work if problems arise.

If you opt to manage the rental property yourself, be prepared to deal with problems that arise promptly – and that could mean weekends and evenings too. An agent will charge you a management fee, regardless of whether the property is occupied or empty, but they should have a good network of trades to jump into action if something goes wrong at your property.

Talk to a specialist buy-to-let mortgage adviser

Buy-to-let mortgages can be complex and a more expensive option than a traditional residential mortgage so it’s vital that you get the best advice you can from buy-to-let mortgage specialists.

If you’re considering a buy-to-let mortgage for a property investment, talk to our team of expert mortgage advisers first to discover the most suitable mortgage products for your purchase. Call us on 08454 500200 and we will be able to help.

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

Lee Langridge
Lee is an experienced Mortgage and Protection Adviser with over 15 years’ experience in the financial services industry. Lee finds no better satisfaction than helping clients to achieve their dreams, no matter how difficult it may be. Lee prides himself on delivering an efficient and personal service.
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