There has been a big leap in buy-to-let mortgage lending, and it's now at its highest since 2007, representing 18% of all new mortgage lending in September.
Experts predict that the private rented sector will account for 25% of all UK properties by 2020 and according to research published by the bank of Scotland “41% of UK pensioners are expected to take a lump sum out to buy a property or pay off their mortgage on retirement.”
New rules that came in April this year have meant over 55's get more freedom with their pension pot, resulting in some people are favouring property as it can make a valuable part of a pension portfolio. Although, it is worth bearing in mind that property is a very hands on investment, and even when instructing a letting agent, there are certain rules and regulations you’ll need to follow.
At Keylet Sales & Lettings we cover all aspects of the buy to let process so that we can provide you with as much information as you need regarding the rental market, including the supply and demand.
Keylet offer a fully experienced Sales team that can help you with the purchase of your buy to let property, and once this is completed and exchanged our resourceful lettings team will be able to advertise your property for rent and manage the property on your behalf.
Our fully managed lettings service allows you to sit back and relax, as we handle viewings, tenant referencing, tenancy agreements, rent, deposits, renewals and check out inspections. Our full list of lettings services can be found here:
It’s important that before you start looking at properties to purchase for Buy-To-Let, that you are able to raise a deposit and as mortgage rates change, to prepare yourself for gains and losses.
Should mortgage rates rise you need to know that your investment will sustain. It is also worth noting the taxes on buy to let investment. On the plus side, a rise in tenant demand and a rise in rents is tempting landlords into investment.
To help you, we’ve put together ten of the most important points when considering Buy-To-Let :