Should I buy to let?

We’re living in times of historically low interest rates and low savings returns. With a strong rental demand, it’s no wonder so many people are keen to get property ownership onto their portfolios. But with Government tax changes coming into effect it’s vital you get the right advice and the right mortgage. Woodhall Mortgages can help you find the most competitive mortgage rates, and show you how to make a decent return on your investment.

Investing in your future

Buy-to-let can be a great way to diversify your portfolio and supplement your income, but it is essential to do your research and get the maths right. Searching for the right property can be exciting, but it’s important to avoid any pitfalls. Buy–to–let mortgages differ from normal residential mortgages, usually you require 25% deposit may have higher mortgage fees. You’ll then need your buy to let rental income to cover the mortgage lenders stress test levels and may need to show a minimum personal income. If you’re thinking of investing in buy-to-let property, or just want a chat to find out more, why not call one of our expert advisors today?

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.

Speak to an advisor

Why not arrange an informal chat with one of our advisors today?

Our qualified independent advisors can give you a call or pay a home visit to discuss your mortgage or protection needs.

Buy to Let

Demand in the rental sector remains strong. If you have the means and the right advice buy-to-let properties could be a great investment for you. With careful management and the right property, you could see a rental yield of 5-10%.

There are many different types of buy-to-let mortgages out there, from fixed rates to variable rates. A fixed rate means the interest rate is set by your lender, and won’t change for an agreed number of months or years. A variable rate is usually set according to the Bank of England’s base rate.

Recent tax changes mean it’s more important than ever to speak to the right people to find the best mortgage deals. Starting in 2017, but not fully implemented until 2020, landlords won’t be able to deduct the cost of their mortgage interest from their rental income.

Buy-to-let mortgages are different from standard residential mortgages because the property is intended to be rented out to tenants. You will typically need a 25% deposit and mortgage arrangement fees are often higher.

Are you prepared for the pitfalls? At times you may find your property sitting empty. Can you afford the loss of income? A good bit of advice is to factor in a two-month buffer when you budget for the year. Properties often need urgent maintenance and repair – a broken boiler or pipe leak. Could you afford this? Before you invest, speak to our advisors and they’ll help you prepare for every possible outcome.

Testimonials

Woodhall made the whole process so easy; no hassle, no stress and most importantly they didn't pressure you in to anything. Chris and Luke really have your best interests at heart, ensuring you have all the information you require as well as the best deals. It also helped that they were readily contactable at all times,

Mr J Taylor