Buy to Let Advice
Buy to Let is a form of residential investment where you buy a property, usually with the aid of a mortgage, and rent it out.
The 1988 Housing Act made buy to let more attractive to landlords when it introduced a new type of tenancy giving landlords more control over their properties and there has been a resurgence in the private rented sector since then. The availability of loans for Buy to Let purchasers and the difficulty for some of getting a residential mortgages (due to toughening up of lending criteria since the credit crunch) has also increased the demand for more rental properties.
It's important to remember when you buy a property to let out, you are becoming a landlord and it's not like owning your own home. In effect you are running a small business and you have important legal responsibilities, for example with regard to your tenants’ safety.
Before you choose a property and arrange the finance to purchase it, there are a number of factors you should look into, which can be found in our guide which you can download by clicking on the button below.