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Buying a Buy to Let Property

Whether you are considering investing in your first buy to let property, or expanding your buy to let portfolio, it’s vital to do things in the right way.

Whether you are considering investing in your first buy to let property, or expanding your buy to let portfolio, it’s vital to do things in the right way.

The buy to let arena has seen a number of changes recently. Buy to let mortgage interest relief has been abolished and replaced with a 20% tax credit. Additionally, there is now an extra 3% stamp duty levy which applies to the purchase of any second or more residential property. So it’s important to take early tax advice.

In addition, you will want to speak to a mortgage broker early in the process if you will need buy to let finance. An independent broker will have access to the whole buy to let mortgage market which means that they will be able to help you find the best mortgage for your needs.

In establishing what kind of property you want to purchase you should think about your ideal tenant. Is it a young professional a family, a group of students? The property will need to match your ideal tenant’s needs.

And once you have found your ideal property you will need to ask a surveyor to conduct a building survey and then engage a solicitor to provide you with legal advice. Your solicitor will conduct a typical conveyancing transaction on your behalf. In addition, your solicitor should check that you have all of the correct permissions to rent out the property and support you in putting in place the correct tenancy agreement. If the property, for example, is leasehold then there may be a restriction on letting or sub-letting. There may also be prohibitive restrictions such as no pets.

For more information on buying a buy to let property...

Please do not hesitate to contact an Everyman Legal Solicitor on 01993 893620 for a free discussion or email  geoffrey.cotterill@everymanlegal.com

Our Buying a Buy to Let Property section contains lots of information to help guide you through the process and make buying your buy to let investment a little less stressful. Find out more here:

We can assist you with all legal aspects of buying a buy to let property, from the conveyancing, to the tenancy agreement. In addition we can set up a limited company for you if you decide that is how you would like to hold your buy to let investments.

What do Everyman Legal charge?

Everyman Legal aims to price competitively but we do not seek to be the cheapest.  Our solicitors offer a high standard of service to each of our clients and our work is, therefore, priced accordingly. We can provide you with a quote for buying a buy to let property either by telephone or email on 01993 893620 or everyman@everymanlegal.com

Our dedicated team of solicitors, based in Witney, Oxfordshire, would be happy to answer your questions.

Contact Us

The Everyman Legal team acted promptly and with us in mind. We were treated as an important client even though the services for the transaction were fairly routine. They always went the extra mile to keep the process moving efficiently.