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Buy To Let UK - is it as good as a pension?

Most people find it very hard running a buy to let property portfolio. This has lead to a lot of amateur investors causing havoc and upset within the private residential letting arena. Even those that 'appear' to have succeeded have only done so on the back of a rising market in most instances. This is an article based web site to help new or prospective buy to let landlords avoid the traps.

                     

Buy To Let

Welcome to our buy to let UK web site that seeks to explore the main issues surrounding buy to let residential properties.  This web site covers most issues including buy to let mortgages, costs, capital gains, buy to let taxation, yields, types of buy to let properties and much more.

If you are a potential first-time buyer seeking a buy-to-let investment, you will find it difficult to start. After time and experience you will find the buy to let sector straight forward. Most buy to let mortgage providers will be able to offer the following:

· Access to different buy to let mortgage products

· 'specialist' buy to let mortgage products

· The group may be independent, they could locate buy to let mortgages from a wide band of various mortgage lenders?

· different investments including; residential buy to let, student buy to let, commercial buy to let, converted property, flats, auction property, Ex Local Authority, off-plan property.

Below are just a few buy to let mortgages:

  • Fixed-rate buy to let mortgages
  • Discount buy to let mortgages
  • Variable rate buy to let mortgages
  • Stepped Discount buy to let mortgages
  • Capped-rate buy to let mortgages

Factors to consider when dealing with a buy to let mortgage:

  • When entering the buy to let sector, see this as a medium to long term investment.
  • Get advice from an ARLA letting agent on general market needs for your buy to let purchase.
  • Work out all expenses. Will rent cover all costs.
  • Make sure your property is presentable i.e. well decorated, new furniture, kitchen upgrades, this enables quick tenants.
  • Work with ARLA as your letting agent. A reputable company, they hold Professional Indemnity Insurance to required standards, they are kept up to date with the latest legal and regulatory requirements in the buy to let market.
  • Try to avoid the following if you are entering the buy to let sector
  • Make sure the property you select meets the market requirements.
  • Try to avoid large gardens and landscapes when choosing your buy to let investment. It would add nothing to the rental value and cost you the 'landlord' in maintenance.
  • Work off-the-shelf tenancy agreements from HMSO or law stationers, even realise to issue the right notices or lose to have a inventory and condition report created before a tenant gets hold of your keys. All documentation should be left with a professional buy to let agent.

Always have a rough idea of who your tenant might be. Speaking to a local agent can be a start as they would understand the area better, where the demand lurks, what the disadvantages maybe.

Try avoiding void periods, time between tenants where you receive no rental income, will be your number one priority. The term of a buy to let mortgage is normally somewhere in the region of 5 to 45 years.

Many landlords extend their properties with a house extension to often reinvest profits and increase the sites value.