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Buy To Let 

Five reasons why Buy To Let is still a good idea…

Income rates potentially higher than savings or stock and shares.

Tenant demand high and rents rising with inflation.

Current low mortgage interest rates.

Cash flow income as well as capital appreciation (your asset will increase in value over time).

Provides an alternative to a pension income or legacy for your children and family.

So if you have more faith in bricks and mortar than stocks and shares then buy to let may be the solution for you.

Three ways to become a Buy To Let landlord*

  • Not all landlords start out with the intention of buying a property specifically for renting out, they might decide to let their current home out so that they can buy a new one to live in whilst keeping an investment. This can be done by changing your mortgage product from a normal residential mortgage to a let-to-buy mortgage, your mortgage company might even let you rent your house out on the same product for a limited time.
  • Use cash savings as a deposit or buy outright a house specifically for renting out, you may want to do this in your own name or in a limited company dependant on your tax circumstances.
  • Release equity from your current home to use as a deposit to buy lettings properties by re-mortgaging your current home or taking a further advance.

*With all the above it is important that you seek independent legal advice so that you take the right course of action for your circumstances and goals.

Once you have decided what the right course of action is for you and you’re in the process of buying your first property or ready to let out your own home it is absolutely crucial you choose the right tenant and that you know what all of the rules and regulations surrounding renting property are, so you do not fail on your obligations.

That’s where using a local and reputable agent is key, choose the right agent and then choose the right level of service for you.

Check out Northwood’s lettings services for more details.

Contact The Doncaster Team

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