Owning a property for investment purposes can provide you with an alternative income.
Although changes in tax legislation have made buy-to-let investing more of a challenge, a well-run property portfolio can still be lucrative.
Independent James can provide you with the financial and legal advice you need to maximise your profit potential, even in a tight rental market.
We offer an advice-based service that can help you source a buy-to-let (BTL) mortgage that fits in with your long-term plans; we also help you understand the implications of income tax changes and Stamp Duty increases.
There is still demand for well-run rental properties, particularly in London and the south east of England.
The increase in single occupancy and changing demographics - a younger more mobile workforce through education and immigration - means many younger people are renting for longer.
The tightening of mortgage lending criteria also means many younger people are having to wait longer before buying.
There are just over 2.6m private landlords in the UK so you can take some comfort in numbers.
It is still vital to take into account all expenses and possible interest rate rises.
We can assist you with any calculations to ensure you are not relying upon capital growth for profit.
Increasingly we have seen tighter underwriting in the investment property market, particularly on rental tests.
Setting up a limited company may be an option. We can help with this.
Traditionally buy to lets are not based on your personal income but this can sometimes be used to sway a lending decision your way and even obtain better interest rates.
Lenders are increasingly insistent on a minimum income requirement and some will even stress test your whole portfolio against your personal income.
If you are an ‘accidental landlord’ or inherited a property you may also be regarded as a consumer landlord. This can mean further scrutiny from lenders, which we can help with.
We use up-to-date technology to source the best deals. We also operate with a number of third-party providers to obtain exclusive deals and reduced fees for our clients.
If we feel a commercial loan may be more appropriate for you we also have access to deals through long standing relationships with specialist lenders.
Mr S Patel, London
Some types of finance such as bridging, development, commercial and buy to lets may not be regulated by the Financial Conduct Authority.
Our advice relates to the recommendation of a Buy to Let mortgage and not the suitability of a Buy to Let investment property. To understand the risks and your responsibilities for calculating and reporting tax, you should speak to a tax adviser.
Speed is of the essence in the purchase process and quite often can be a determinant factor for you in obtaining your dream property.
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