Buy To Let

The short answer is yes.

Firstly, organise your finances and look at possible finance options. How will you fund the purchase? If you are having a buy-to-let mortgage, your lender will need to satisfy itself that your chosen property is a good long-term investment.

Buy-to-let mortgages will typically be based on the rental income of the property rather than your salary. Rental income must exceed the mortgage monthly repayments. Consider the rent you can expect to achieve and what your yield would be; see the formula below.

You will also be required to put down a larger deposit than you would for a residential property. It will usually be anywhere from 20% of the property’s value. Your independent mortgage advisor will be able to guide you on the best deals that most suit you. Remember also to consider the possibility that there may be periods when the property is empty, and you are not receiving rent, and also factor in a contingency to cover any repair and maintenance costs.

The next step is to research your areas and target market. What are the properties and areas most in demand? If you are thinking of professional lets, then you will need to consider transport links, local amenities, and whether the property is suitable for sharers or a couple, for example. You may want to let to a family, in which case you would need to consider local schools. If your preference is students, then how close is the property to the University and student haunts? What is the level of rent you can expect to achieve? What will be your rental yield?

To calculate the percentage gross rental yield on your investment
(total income per year ÷ the value of the property) x 100 = % gross yield

To calculate the percentage net yield
([total income – total costs] ÷ the value of the property) x 100 = % net yield

Fully Managed Service
We will handle all aspects concerning the rental of your property. This allows you to spend your time on other things and to step back and know you are in safe hands with us taking the reins.

Let only
This service is more suitable for Landlords who would prefer a more hands-on approach. As with all the services offered, we will find you tenants, verify their credentials, and handle final paperwork, but you will take care of the day-to-day management.