First Time Landlord Mortgages

Buy to Let Mortgages for First Time Landlords

The buy to let industry is among the few markets in the UK which is currently growing at a stable rate, without any indications of a slowdown.

Relatively low mortgage rates compared to high rental yields make buy to let property investment typically a sound financial investment, and lots of people are looking to invest in a buy to let property as an option to a traditional cash pension. Cash pensions have actually had a large amount of value “wiped off” them during the financial crisis and this might be another factor which is motivating individuals to consider alternative means to fund their retirement.

It can be a little daunting purchasing your first buy to let property, and that is why we  are here to  help and advise you every step of the way.

Idea for first time owners and first time buyers of investment property

With the present buy to let market being a financially rewarding one, its no real surprise that more and more financiers are choosing to buy properties with the view to receiving a quicker income, rather of waiting for returns on their capital through conventional savings. When you’re thinking of taking then plunge and investing in a buy to let property for the first time, there are a few things to think about …

The most crucial part of the consideration procedure is where to purchase the property. It’s been proven in the past that first time buyers usually feel more comfortable buying a property closer to home. This can be the best option if the buy to let market is flourishing, although this option might leave you struggling for money if there is no real need or requirement for rental properties at that location. The much better alternative might be searching further afield. It’s worth having a look at the area you want to invest in and taking a look at various other properties that are on the market. The best locations to take a look at generally can be family orientated ones, with a need for rental properties or close to a college as students are constantly on the lookout for flats to rent. If you are considering leasing out the property you are presently living in, in order to purchase a second home – this kind of buy to let mortgage is typically described as a let to buy mortgage.

Handling your buy to let property

When you have actually chosen the location and property, an additional thing to consider is how involved you wish to be. Do you have the time and energy to care for the project yourself, or would you choose to pay someone to do it for you? Its definitely a good idea to care for it yourself to see even more profit, however this can be very time consuming. A property management company can take all the pressure of your shoulders, but this will come at an added expense. You also have to think about the best payment alternative for yourself. There are a range of mortgages and payment options offered, however you have to choose what’s right for you at the time. Shopping around and looking at comparison websites can be a useful exercise and can give you a couple of choices to consider in regards to lease and returns.

By putting yourself in the shoes of someone who is searching for a rental property, you give yourself the best way of satisfying their demands in regards to location, interior and cost. You likewise should remember that you’re purchasing the property to see a steady income on your earnings and not trying to find a fast earner, so think carefully about all your options.

For specialist help securing the buy to let mortgage for a student property contact us, a seasoned buy to let mortgage broker, whether you are trying to find your first BTL mortgages, or you are planning to remortgage your buy to let.

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