Buy To Let - CCC Financial

Northern Ireland - England - Wales - Scotland

Buy-to-Let Mortgage

Do your homework Investing in property to let is not an instant road to riches scheme. Buy-to-Let Mortgage Before you dive in, be prepared to... have a deposit on the property tied up for an indefinite period. This is usually about 15-20% of the property value. get the place up to a standard where you can be confident it will attract tenants. pay for maintenance. weather fluctuations in the market. Buy-to-Let Mortgage Tips for success Location, location, location. This is one of the most important factors a tenant will look for. Desirable properties are conveniently located for public transport, local amenities, restaurants and bars and have parking facilities nearby. If you are buying to let in the student market, proximity to the university is also a major selling point. Consult local letting agents and try to find out which areas and what kinds of property are in demand. Your letting agent should also be able to advise you about rent Charging too high a rent will put off prospective tenants - research the market conditions thoroughly. Buy-to-Let Mortgage Remember that rent is not the mortgage, and if the lettings market is sluggish, you may not succeed is covering your entire monthly mortgage amount. A well maintained and attractive property will be much more in demand than a run down property. If you decide to let the property furnished, it is worthwhile taking some time to find out what features make a property desirable to tenants. Again, your letting agent should be able to advise you on this. If you have the money, time and inclination, you may consider investing in a property that needs some work. You'll be able to customise it to the needs of your tenants. If you do not have the time or interest to buy a property that needs a lot of work, a newer property may be more suitable. However, it is worth remembering that even new properties will need maintenance and this will increase as the property ages. Buy-to-Let Mortgage When you are buying the property, try to remember that it is not you who is going to be living there. Look at it with an objective eye. Think about the property from a tenant's point of view. Buy-to-Let Mortgage

Buy to Let Mortgage