Type of help offered
The Mortgage Shop Worthing
Experts In Mortgage Matters
Buy To Let

Buying a property for investment, whether for permanent letting or as a holiday let can be a good investment, but before making that decision you should carefully consider the following points.
 
  • Is the the area one which will be safe and attractive to tenants?
  • Will it be easy to sell at a later date?
  • Can you afford to pay the mortgage if you can't find tenants for a few months?
  • Has the likely rental income been confirmed by a reputable letting agent and will good tenants be easy to find?
  • Will you need the services of a letting agent to find and credit-check tenants and/or manage the tenancy?  (This could cost between 8 to 15% of the monthly income).
  • Are you aware of the tax position both for income and capital gains tax on the eventual sale?
  • How can you minimise the tax you pay on this income?  There are ways to structure your investment that will do this.
  • Does the property have gas installed and is there a current gas safety certificate and are there any electrical appliances which also need safety certificates?
  • Will it be let furnished or unfurnished and are you aware of the fire safety regulations for furniture?
  • Are you aware of the principle of 'gearing' concerning borrowing requirements, how it benefits landlords and what the risks are?
  • Will it be let to students, a family, shared by several tenants or will it be a corporate let? Different considerations apply in each case.

 

These are just some of the questions to be considered. Please telephone if you are new to letting and want to discuss the implications further. Buy to Let mortgages can be obtained up to 85% of purchase price, so you will need at least a 15% deposit. However if you are able to produce a 25% deposit you will have a much larger choice of lenders and a better interest rate.

    

 The Financial Services Authority does not regulate some forms of buy to lets and secured loans.

Think carefully before securing other debts against your home. 
 
 
 
The overall cost for comparison is 6.8 %APR.  The actual rate will depend on your
 
 circumstances. APR is variable, and based on a usual case.                                      
 
Ask for a personalised illustration                                                                               
 
   Your home may be repossessed if you do not keep up repayments on your mortgage.
  
The guidance and or/advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

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