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Property investment has always been considered to be a safe investment. In the past few years UK has seen an increased interest in buy to let properties as growing property prices and availability of cheap buy to let mortgages attracted new investors. Many people have entered buy to let market hoping to make big profits. However, world financial crisis has taken its toll and we have seen house prices going down. To add to it, credit crunch has affected many lenders and due to their financial difficulties, the number of buy to let mortgages on offer has been substantially reduced, but it doesn’t mean that there are no decent deals.
Our buy to let and commercial mortgage brokers are able to check dozens of deals available on the market to find the one most suited for your business or buy to let.
Despite the fact that recently house prices gone down, not many professional landlords have sold their properties, because they know that property is a long term investment and the market will eventually pick up. In fact many professional landlords see current climate as an opportunity to expand their portfolio. If property has been chosen correctly, rental income should cover buy to let mortgage payments and it is indeed one of the requirements of buy to let lenders.
Another important aspect for success of any landlord is tenant’s demand for their property. In the right area landlords should not have any difficulties finding tenants, however it is wise to check beforehand if the area you are buying in is oversupplied with rental properties.
It is important to remember that landlords should purchase buy to let building insurance and comply with all current rules and regulations. As for example: safety certificates and a licence for properties in multiple occupation (HMO).
If you are purchasing a property which will be let out to multiple tenants, then you may find that you will need to find a commercial mortgage specialist as not every buy to let provider will deal with multiple occupation.
