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Buy to Let (BTL)

Owning a Buy to Let property isn't like buying your own home; it's more like running a small business. So it's important to do your homework to ensure you buy the right property, in the right place to give you the best possible chance of success.
You should also consider the impact on your tax affairs and seek some expert advice in regards to pension and inheritance planning.
Buying to Let at a glance
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Researching
Talk to letting agents about levels of demand and likely rental income before deciding on a location. Choose a property that matches your target/ideal tenant(s). Consider appointing a letting agent to collect rent, find tenants and deal with routine problems.
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Budgeting
When you've found the right property, work through the figures carefully to ensure the project looks feasible. In addition to your mortgage repayments, consider the other costs you'll need to cover such as stamp duty, solicitors' fees, insurance, furniture & fittings, service charge and ground rent for leasehold properties, together with ongoing maintenance and repairs. Also, don't forget to consider how you will pay your Buy to Let mortgage if either interest rates rise or the property is vacant.
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Legal considerations
Before you rent out a property, check your legal responsibilities. For example, under no circumstances should you rent out a property without an appropriate tenancy agreement/lease in place. This is important as it is a legally binding document that sets out the legal rights and responsibilities of both the landlord and the tenant(s).
As a landlord you have a 'duty of care' to make sure your Buy to Let property and any utilities provided are entirely safe for tenants. Some of the areas you need to consider are gas & electrical safety checks and adherence to fire regulations.
We offer a selection of Buy to Let mortgages. Choose a fixed rate or tracker deal, make interest-only or capital repayments.

Buy to Let mortgages

If you're looking to become a landlord we have a range of Buy to Let mortgages available. Find out more about Buy to Let mortgages>>
 

Do you need insurance?

Get your Buy to Let property covered with our Residential Property Owners policy.
Find out more about insurance cover for Buy to Let>>
 

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