Letting Process
CHOOSING A PROPERTY
When investing in a property to let, it is important not to allow your heart to rule your head.
When you buy-to-let, it is vital to do your homework thoroughly before you purchase a property. Remember, you require a property that is easily rentable and is in a high demand area.
Expert advice
When looking around for a suitable property to buy, it makes sense to get advice from local specialist letting agents. They know exactly what types of property are in demand in their area, and the likely rental returns from those properties.
They'll also take care of finding the tenants, deciding on the size of and collecting the tenants deposit, and the ongoing management of the property once you have purchased it. Many lenders insist that you use a memeber of the Association of Residential Letting Agents (ARLA) to manage the property.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 7.1% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There may be a fee for the mortgage advice. The precise amount will depend on your circumstances, but we estimate it will be 1.5% of the loan amount with a minimum fee of £500 added on to the loan.
Mayfair Consulting Limited is an Appointed Representative of The Mortgage Times Group Limited, 279 Tottenham Court Road, London , W1T 7RJ , which is authorised and regulated by the Financial Services Authority no. 303007.
