Purchasing a buy-to-let

If you are buying a property specifically with the intention of using it as a buy-to-let, then it is very important that you consider both the purchase price of property and also the potential rental value of that property. You will obviously need to ensure that the rental income provided by the property is sufficient to meet the outgoing mortgage (if one is required) and/or that you have the finances to meet any potential shortfall. You should also build in a ‘buffer’ to account for the potential of there being a problem with the tenant which may involve a period when rent is not being paid.

Once you have decided on a property that you wish to purchase, Rutherfords Solicitors has an experienced bespoke Property Purchase Department. Please give us a call on 01827 311411 or send us an email to c.stanton@rutherfordslegal.com and speak to Corinne Stanton who is our specialist residential conveyancer and has been buying, selling and helping refinance properties for over two decades. Corinne will be able to give you an instant quote.

Rutherfords Solicitors can act on your behalf for all your mortgage related matters including the following:

• Sale or purchase
• Mortgages
• Re-mortgages
• Life time mortgages
• Equity release

Mortgages and financing

We are currently in the middle of a credit crunch and lenders do require larger deposits and better security than they did before the summer of 2008. However, there are still many good mortgage deals to be obtained and low bank rates.

We are not financial advisers and therefore cannot provide financial advice ourselves, but we do have a number of specialist contacts should you require assistance in obtaining a mortgage to suit your requirements.