Buy to Let
Buying a property as an investment and letting it out is becoming more and more popular. In the past lenders have been reluctant to lend money for this purpose but most have now relaxed their rules and will happily lend for this purpose. Some will allow you to buy more than one investment property. We can arrange advice as to which lender is best for you and carry out the purchase on your behalf.
Tax
Payments made to your lender by way of interest on your mortgage are normally tax deductable and can be set off against the rental income received. Certain other costs - such as maintenance and repairs - can also normally be deducted provided they are incurred whilst the property is tenanted. Remember, a rental property is subject to Capital Gains Tax on a sliding scale on sale.
Factoring
A Factor will look after your rental property, finding tenants and collecting rent. You can elect to do this yourself or you can appoint a factor to do it for you. Factoring charges are levied as a percentage of the monthly rent (typically around 10%). If you already have tenants lined up and you would like us to prepare a lease, we can draw this up at a cost of £94 including VAT.