How to maximise your Buy To let
The best way to maximise your buy to let property first and foremost comes down to the type and location of the property. This will need to be in a good area that will be in demand to rent. Remember, even if your buy to let property doesn’t have a tenant, you or your company will still be responsible for the mortgage repayment, therefore it is vital that the property you and your investors choose to purchase is in a smart location and is a reputable residence that can be easily rented.
Another thing to consider when trying to maximise your buy to let, is weighing how much of a deposit on the mortgage loan is best. Usually, buy to let mortgages require a much larger deposit, 25%, when compared to home mortgages, but it is not always best to lock too much cash away in a mortgage. In some cases, companies or individuals can secure a buy to let mortgage with only a 15% deposit which, would leave more cash in the bank however could eat away at potential monthly profits since you would have a higher monthly mortgage. These decisions can be weighed and decided upon with the help of your mortgage broker.
The most important factor for maximising your buy to let will still come down to the location and property value forecasts. The property you and your investors choose to buy could have the potential to drastically go up in value in just a few short years. Best thing to start now is researching and choosing a great home or apartment in an up and coming neighbourhood that could yield a solid return value.
Guide to Buy To Let Mortgages
- What is a commercial Buy to Let?
- What is Buy To Let?
- What is a Buy-to-Let mortgage?
- What are Typical fees for Buy to Let loans
- What types of property fall under Buy to Let?
- What is an Special Purpose Vehicle (SPV)?
- What is the stamp duty rate for a Buy To Let?
- What are the current Buy To Let Mortgage Rates?
- Buy to Let, what can I claim against tax?
- Ideal Buy To Let Deposits / Loan to Value (LTV)
- Why use a Broker for Buy To Let?
- What is the capital gains impact of Buy To Let?
- Are my Buy To Let profits taxable?
- How to maximise your Buy To let
- What deposit do you need for a Buy to Let?