Buy to Let Companies
There are many different types of buy to let companies which range from extremely professional buy to let specialist tax companies, through to companies that are not so professional, particularly the buy to let companies that source properties ‘in theory’ at ‘below market value’. Which buy to let companies do you need to help you with your investment and which should you avoid like the plague?
Companies you need to invest in Buy to Let
There are various companies and experts that you should be working with as a buy to let investor, Kate Faulkner, one of the UK’s top property experts, advises on which companies you should be working with to help you secure a successful return on your buy to let portfolio.
Buy to Let Finance Companies
Trying to find a buy to let mortgage in today’s market isn’t easy and you should be getting all the help you can! You can go to bank and building society companies directly, but you should also find a good buy to let mortgage broker and an independent financial advisor or a wealth management expert. All of these should be able to help secure the right mortgage for you, on the right properties. It won’t be easy, so put aside 2-3 full days to try and secure a good financial company or contact us on 0845 838 1763 or email firstname.lastname@example.org
Buy to Let Property Tax Specialist Companies
It is vital, prior to buying into a buy to let portfolio to secure advice on the way you purchase a property (joint or tenants in common for example), what you spend renovating your property portfolio so you can rent it out and especially to have a tax specialist help ensure that when you sell your property portfolio, your tax bill is as low as possible.
Buy to Let Consulting Companies
There are lots of people and companies that will try very hard to convince you that you need to pay thousands of pounds for their help. In some cases, if it’s a highly specialised form of buy to let (for example Houses in Multiple Occupation) then it’s worth considering. However, buy to let advice best comes from local experts operating in your area. For example, a local letting only agent will know what properties they are short of, which ones have performed best from a void perspective over time and therefore work with you and your budget to give you the best advice that’s in your interest. This is unlike many estate agents who can only ever sell you properties that are on their books.
Below Market Value Companies
Kate Faulkner says “Every day I get below market value properties from so called property sourcers. Having checked many of these out in detail, I’d say at least 80% aren’t below market value at all. They are just ‘properties up north’ being sold to naive investors ‘down south’!” So be warned, most of these companies aren’t really selling you below market value properties at all, they are just selling properties that ‘appear’ to be cheap and that’s completely different!
There are many companies that offer lettings services. Some investors strongly suggest that you should let a property yourself “it is not that difficult”. Nothing could be further from the truth. It is vital that you at least consider using a letting agent. The legal responsibilities and requirements of a landlord are now immense. Worst still they keep changing and under the new government, they also differ on a local authority basis.
There are lettings companies which only operate on-line and those that are on the high street. It’s no surprise that the on-line companies are cheaper, but don’t forget you get what you pay for and being put in ‘direct touch’ with tenants isn’t necessarily a good thing! When there are problems you won’t have anyone else to turn to for help and it’s very lonely when a tenant is refusing to pay you rent, trashing your home, irritating the neighbours who are calling you every five minutes!
If you need help working out what buy to let companies you need to use, how to source them or need some help sourcing buy to let companies, contact Kate and her team at Designs on Property. With over 10 years in the buy to let market, there aren’t many companies they haven’t heard of and there are many they’d avoid as well as some they would be happy to recommend! Call 0845 838 1763 or email email@example.com
Alternatively, why not request a free Buy to Let checklist or purchase our comprehensive Buy to Let Guide to help get all the companies that Kate and her team have worked with.
Still not sure what to do, then contact Kate at Designs on Property by emailing firstname.lastname@example.org or calling 0845 838 1763 for independent help.