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An Investor should
Plan to be a Buy to Let Landlord over the medium to long-term as it is
an investment
that produces a variable combination of rental yield and capital
appreciation.
Make an objective business decision when purchasing a property based on
research of the needs and requirements of the local market, not, based
on personal taste.
Be aware that the rental market is fast moving with fluctuating supply
and demand. This
can influence achievable rental levels and occupancy rates.
Take informed advice from both professional Letting Agents and
specialised financial
advisers from the beginning.
A Lender should
Conduct a thorough analysis of affordability and not lend more than you
can afford to repay.
Undertake a professional assessment of the security and the
reasonableness of the
forecast rental income.
Provide clear information on Buy to Let products and services and on
your obligations
as a borrower.
Explain what to do if you get into difficulties with mortgage payments.
A Letting Agent should
Demonstrate a comprehensive understanding of the legalities, regulations
and
obligations, which apply to Landlords, Tenants and Agents.
Provide realistic and up to date guidance on supply and demand based on
a detailed local
knowledge of the market
Hold Professional Indemnity Insurance, separate Client Accounts and a
Client Money
Bonding scheme and employ trained, qualified staff.
Have access to a complaints process over the service standards of
letting agents and to
procedures for resolving disputes over deposits between Landlords and
Tenants.
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