Buy to Let | Buy to Let |
Page 1 of 2  The phrase buy-to-let can refer either to the investment strategy of buying a residential property to be let for profit; or to a particular category of mortgage used to purchase a property for letting.For many years landlords have invested in residential property to be let for profit, but since the mid-nineties there has been rapid growth in the property market leading to a surge in demand for rental property which is being exploited by many mortgage providers keen to encourage new amateur landlords. Buying a property to let can be a good investment but it can turn into a financial disaster. The more time and effort you are prepared to put into your investment the better return you will get. Choose some potential locations. Do you want to live close to your property and manage it or will you use a letting agent? Think about your ideal tenant– Within the areas you have chosen, look at the type of tenants available and compile a list of features your property needs to have to attract these sorts of tenants. Ideally you should be looking for a property which is ‘under market value’. Independently research the areas you are interested in, use resources such as the online versions of local newspapers and community websites. |
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