Thinking of becoming a landlord?

Are you thinking about trying your hand as a landlord? Figures show there has been an upsurge of interest in the last 6 months even with all the new tax laws on buy-to-lets. Or perhaps you a seasoned property investor looking to expand your portfolio? Whichever you maybe it is still an appropriate time to be considering your options.

Research has revealed that not only are there a record number of deals available they are still very keenly priced with fixed rates leading the way. This month alone has seen the number of new buy-to-let (BTL) mortgages available increase.

More people are considering this area of investment due to the poor returns traditional savings accounts are currently offering and have been doing for the last 5 years.

It is noticeable existing landlords are re-mortgaging to raise capital to increase their portfolios. One landlord interviewed said, “I have just re-mortgaged three of my properties and saved over £800 a month in interest payments plus I raised enough capital for a deposit on a new property.” “With property values still increasing every year I will be reviewing all my current deals as they expire.”

With so many products on the market it is imperative that your research is thorough and meets your longer-term needs. One thing to be very aware of is the really “cheap deal” that looks good on paper but might not be cost effective over the longer term.

Most importantly you need to consider if you want to fix your rate and if so for how long. With so many things to consider it is advisable to seek professional help from a reputable broker as a wrong move now could cost money in the future.

If you would like assistance with your buy-to-let mortgage, please do give one of our expert advisers a call. We have years of experience and look forward to being of assistance to you.