Property investment
requirements differ
from when you
are buying a house
to live in"
Stuart Angus, Associate
Buying a property as a home is a serious transaction, but buying investment property with a view to making money can be even more stressful. You want to ensure you protect your savings and investment as much as is possible.
Choosing the right property
It's important to recognise that not all properties are suitable for letting. It's not uncommon for properties to be covered by restrictive covenants or lease conditions that prohibit the letting of a property. It's worth asking these questions as early as possible in the transaction, but we'll check this out thoroughly on your behalf.
Consider the property's condition
Due to the various health and safety requirements imposed on landlords, older properties that have been poorly maintained may not be ideal, as there may be a need to pay for improvements and ongoing repairs, making your investment less financially attractive.
Financing an investment property
Many lenders are happy to lend mortgages on investment properties, but apply different mortgage terms to those normally applied for own residential use. It's important to declare your intended use of the property when applying for finance in order to avoid problems later.
Becoming a landlord
Becoming a landlord is now relatively common, but many people still enter into this having been poorly advised and are ill prepared to meet their legal responsibilities. Please see the information about our landlord services.
Why use Access Legal from Shoosmiths?
We regularly assist professional and amateur landlords who are buying all types of properties. We ensure transactions are progressed as quickly as possible, so you can start enjoying the benefits of your investments as quickly as possible.
We can help you with the purchase of the property and the ongoing management of it. Please see the information about our landlord services.
