Landlords

What is Buy to Let?

Buy-to-Let is the initiative devised by the Association of Residential Letting Agents, ARLA, and supported by the six leading mortgage lenders in the sector, Alliance & Leicester, Clydesdale Bank, Halifax Mortgage Services, Mortgage Express, NatWest Mortgage Services and Paragon Mortgages.

It is designed to stimulate the growth of the Private Rented Sector by encouraging private investors to take the opportunities given by low interest rates and the reasonable certainty of sustained capital growth over the coming years.

With the launch of Buy-to-Let, the strength and importance of the rental market has been underlined. Rentals are fully understood to be a key element in the housing market and private investors are actively backed by mortgage lenders. The rental market today stands at around 11% after dropping to a low of 7% in 1989, but real growth has been achieved since then, and is forecast to continue.

Thinking of Buying-to-Let?

If you are encouraged by the buy-to-let initiative and are thinking of buying an investment property, then you need look no further than Residential Property Management for the complete service. As specialists in residential lettings and management, we provide the following services for the buy-to-let investor:-

Advice on the local market, what types of property are in demand and how they should be prepared for letting. We will gladly visit a property before you purchase it to assess it's suitability and give an indication of rental value.

If you require a mortgage, we will provide a list of lenders that are part of the buy-to-let scheme. Loans can be arranged for terms of between five and forty-five years and for up to 80% of the value of the property.

A range of LetSure Insurance products including Landlords Household & Rent/Legal Protection Insurance.

Advice on current safety legislation with regard to gas appliances, electrical safety, furniture & furnishings regulations, smoke detectors etc.

A full management service for when the property has been purchased and is ready to let. The service includes, finding and vetting suitable tenants, credit checks, drawing up the tenancy agreement, compiling an inventory and schedule of condition, collection and holding of deposit, rent collections, monthly statements, tax reports, property inspections and dealing with maintenance & repairs.

Demand is strong for rental property of the right type at the right price. It is not the most expensive properties that produce the best returns or let the fastest. Average gross returns are around 8-10% and capital appreciation is likely to match, if not exceed, inflation for the foreseeable future. Good reasons to seriously consider buy-to-let.