Buying a property and letting it out is extremely popular but with recent tax changes and EPC requirements it has made the idea a little more complex. Whether you are a first time buyer/first time landlord or a landlord with a portfolio of properties, we would love to chat and see how we can help.
Buy-to-let involves purchasing a property with the intention of letting it out to tenants to generate rental income. However, the type of tenant is important, as the lender will need to know the type of tenant you plan to let the property to, such as corporate let, student let, Airbnb, HMOs (houses in multiple occupation), professionals, holiday let etc
Whether you’re an existing landlord or you are looking to buy your first investment property, it helps to have an experienced team help you on your landlord journey. There is a wide variety of things to consider when you’re thinking about a buy-to-let Mortgage, such as:
In addition to these, there are also the legal requirements that you will need to meet, such as obtaining Gas Safety certificates, having a valid EPC and landlord’s insurance. We know that buy-to-let mortgages aren’t always easy and that is why we are here.
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At SJ Financial Solutions, we have a team of experienced advisors who have a wealth of knowledge in buy-to-let mortgages. We have dealt with clients who are buying their first buy-to-let property using savings and inheritance to clients whose occupation is a professional landlord.
Our mortgage advisors can help you search through a variety of mortgage deals to find the most suitable product that suits your financial circumstances and your needs.
If you would like to discuss your options or if you would just like to know what may be possible, then don’t hesitate to contact us.
You may be in a position where you own multiple rental properties and should you own 4 or more, you are classed as a portfolio landlord. Tougher rules and regulations for portfolio landlords are in place and lenders will require more information from you. We will discuss this with you and help with the paperwork.
If you are looking to review your portfolio or just want to chat through what the changes may mean for you, please don’t hesitate to get in touch with our mortgage advisors.
The mortgage industry has caught up with the booming short-term holiday market and is now offering mortgages specifically for those wanting to boost their income by renting out a part or all of their property.
If you are looking to become an Airbnb host, we can help you navigate the market and find one of the growing number of lenders on the market offering these mortgage deals.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Deposit requirements for buy-to-let mortgages vary depending on lenders and individual circumstances. Typically, lenders may require a deposit of 25% or more of the property's purchase price.
Rental income is subject to income tax, and landlords are required to report it on their tax returns. Additionally, landlords may be eligible for various tax deductions, such as mortgage interest and property maintenance expenses. Please note we are not accountants or tax advisors and would strongly recommend that seek advice prior to buying a buy to let or even increasing your portfolio.
Common pitfalls of buy-to-let investing include underestimating running costs, encountering problematic tenants, and failing to conduct thorough market research. It's essential to approach buy-to-let investing with careful planning and diligence.
The viability of buy-to-let investing depends on various factors, including market conditions, location, and individual financial goals. While buy-to-let can offer attractive returns, investors should conduct thorough due diligence and seek professional advice before making investment decisions.
We pride ourselves in working with our customers as transparently and honestly as possible, so if you have any questions then please don’t hesitate to contact us and we’ll be happy to answer any queries that you may have. Simply click the button below to submit a contact form or ring either our Birmingham office on 0121 448 0161 or our Tamworth office on 01827 230 760.
