This is a growth area for investors as more people see the buy-to-let market a sound option for the future. Traditional forms of investment such as banks and building societies are still producing poor returns so investors are looking elsewhere. The house rental market in the UK is very buoyant as people trying to get onto the property ladder find it more difficult due to rising house prices. The demand for good rental property has increased over the last 2 years and would seem to be continuing in that vain. Experts expect the buy-to-let market to increase even more now the new pension rules are coming into force as this will give retiring people more options. Ways to be a successful Buy-to-let investor 1, Select the type of tenant you are targeting this could be a young couple or single person in a professional career. 2, Make sure when selecting a property for buy-to-let it is in an area which fits your target tenant. Is it close to schools shops and local businesses for example all these are important factors when selecting your investment. 3, Selecting the correct buy-to-let mortgage to fit your long term planning. Do you want a fixed rate or a tracker or indeed any other product that is on offer? It is very important to seek professional advice when it comes to choosing your mortgage. 4, Running a buy-to-let is not an easy task, you may decide to have an agency manage this on your behalf. It is important to keep fees to a minimum to maximise your investment. 5, Look after your tenants as you don’t want your property empty for long periods of time. Make sure you have a good maintenance company in place to look after any problems that may arise. These are just a few essential things to consider when entering the buy-to-let market. Need some help selecting a mortgage? Do please give one of our expert advisers a call and they will be pleased to assist in any way they can.
