Buy to Let Solicitors
Buy to let property can be a good investment, but it is important to have the right legal advice when buying your property and renting it out. Our experienced buy to let conveyancing solicitors can support you with both buying your property and dealing with tenants, making a buy to let investment as straightforward as possible.
Get in touch with our buy to let conveyancing solicitors in Bristol
Our buy to let expertise
Our property solicitors can assist with:
- Buying and selling buy to let property
- Property checks and searches
- Buy to let mortgages
- Tenancy agreements
- Landlord and tenant issues
- Capital Gains Tax issues
Buy to let FAQs
Buy to let mortgages are usually offered on an interest-only basis, meaning your monthly repayments only cover the interest on your mortgage and as a result, the money you’ve borrowed (capital debt) will not go down.
You will need to pay off the full amount at the end of your term, which you can do by either selling the property or keeping it and taking out a new mortgage.
Buy to let mortgages have higher interest rates and larger fees because they pose a higher risk for your lender. Of course, generally speaking, the mortgage will be paid off monthly using the rent you receive as a landlord, however, there is the risk that you may encounter issues in the future with your tenant repaying on time.
As your monthly payments will only cover the interest on your mortgage, you may pay less each month than you would for a residential mortgage.
A buy to let mortgage requires a larger deposit than a residential one, usually around 25% of the property’s value. Your mortgage may require a deposit as large as 40%. The fees and rate of interest are higher, too.
So why the larger deposit? It protects your lender in case your repayments pause due to problems in collecting rent.
While you may be put off by the higher upfront costs, paying more initially will lower your monthly costs and reduce the amount you need to pay off or refinance at the end of your mortgage.
Contact our buy to let solicitors in Bristol and South Gloucestershire
Our team of highly experienced residential conveyancing solicitors can take the stress and worry out of buying or selling a buy to let property.
For a free quote, complete our short form. Our charges are transparent and we outline all fees and disbursements up front, meaning that you’ll understand the full extent of your conveyancing charges from the very start.
Alternatively, call us on 0117 325 2929.