The Buy-to-let market can be tougher than it once was. Changes to tax on buying property investments and landlord's rental income has contributed to that, but for many people the idea of investing in property still appeals, as they trust bricks and mortar and may feel that they can add value to a home in a way they can't to an investment fund.
A world of low interest rates helps polish the attraction of buy-to-let. Generally, returns on savings are low and mortgages are cheap, however interest rates are forecast to rise and the 3 per cent stamp duty surcharge and loss of full mortgage interest tax relief has eaten into returns, forcing some would be landlords to question if buy-to-let is still the golden egg it was once seen to be.
Nonetheless, buy-to-let remains popular. What the changes have done, is force many part time landlords to up their game. The good news is, with the right support team and advice, you can still make buy-to-let properties work well. So, in the spirit of having the right support team, here are Scottish Property Centre’s top five tips and OnPoint Financial’s top five tips to secure the best deal for yourself.
Scottish Property Centre’s – Top 5 Tips
OnPoint Financial’s – Top 5 Tips
And a final bonus tip! Don’t be afraid of asking what you feel are the stupid questions. We’ve heard them all before, and very rarely are they stupid! It’s always better to ask before you’ve put pen to paper on a deal and it’s too late.
Your property may be repossessed if you do not keep up repayments on your mortgage
OnPoint Financial Ltd usually charge a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.
Scottish Property Centre Shawlands branch introduces clients to OnPoint Financial Ltd for purpose of the provision of advice in relation to mortgage and non investment insurance products. OnPoint Financial Ltd is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let.
Help and Advice for Landlords
As members of the Scottish Association of Landlords and Council of Letting Agents, Scottish Property Centre pride ourselves on being at the forefront of legislative changes that can impact upon you as a landlord and property owner, and of course your tenant.
If you are an existing landlord or you’re considering letting a property in the near future, our letting team will be more than happy to help.
In addition, all Scottish Property Centre branches work in partnership with fully authorised and regulated mortgage advisors who are able to source from the biggest lenders & protection through their comprehensive lender panel, meaning the most suitable and appropriate mortgage deals at competitive rates are available to us.