Commercial Property

Investment Property

Buying a property as an investment, even if it is a ‘residential’ property, is different from buying a property as a home. This type of property transaction is typically termed ‘buy-to-let’ and you need to think about finance, letting and maintaining the property and seek advice about the tax implications of your investments.

We realise that your aims in buying or selling investment property are not the same as those for a buyer or seller of residential property. You want the deal done quickly and need to maximise your investment and reduce any risk as far as possible.

You need to keep in mind that getting finance for a buy-to-let property is not the same as getting a mortgage for your own home. Often interest rates are higher and the lender will apply different lending criteria than to a private homebuyer.

Borrowing as an individual is certainly not out of the question but you need to check with the lender whether there are restrictions on the type of property you can buy with buy-to-let finance. Many lenders will not consider lending on this basis where there is a commercial premises below residential leasehold flats (although some will) and if you are buying a leasehold property, there will be a requirement as to the remaining length of the lease.

Usually you need to have an assured shorthold tenancy agreement in place. There are rules about what you can and can’t do with a tenant’s deposit and you need to be careful that you do not unwittingly give your tenants rights to remain in your property indefinitely!

Whatever advice you need in relation to buying Investment Property, contact us to see how we can help.