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23 November 2015

First time buyers compete with buy to let investors

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    • Residential Property
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23 November 2015

First time buyers compete with buy to let investors

After an eight month slowdown, house prices are rising faster than ever, particularly smaller homes at the lower end of the market.  This has resulted in head to head competition between first time buyers anxious to secure their first home and investors wanting to capitalise on a good return on their money.

The property market can be volatile and unpredictable, but, in recent years, property has continued to perform well compared as against equities, gilts and investments, meaning that seasoned buy to let veterans are expanding their portfolios whilst there are large numbers of new investors coming to the market.  Given the chronic housing shortage, the rental demand for smaller homes remains at an all-time high; and investors are taking advantage of this. 

It is important to carry out research before you invest in bricks and mortar; you need to be sure about the property, the price, the area and ensure that you take expert advice on the right mortgage product for you.  In addition, there are other considerations if you are looking to become a landlord.
First time buyers compete with buy to let investors

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Expert Commentary

Property remains an attractive investment, with good rental yields in abundance, but potential landlords should be aware of all of their obligations, legal and otherwise.  There is a legal requirement for an Energy Performance Certificate to be made available before property is let and there are additional requirements regarding supplies and servicing of both gas and electric along with PAT testing of portable appliances. 

Further, deposits should be placed in an appropriate deposit scheme.  In short, landlords need to carry out thorough research and ensure that they have adhered to the rules and regulations which exist for the protection of both landlords and tenants alike”

Our residential property team are experienced in acting for investors who are generally keen to complete as quickly as possible so as to activate their income stream.  Further, as the transaction is less emotive, our experts raise enquiries which are relevant to what a landlord will need to know, as opposed to an owner occupier.

This is not legal advice; it is intended to provide information of general interest about current legal issues.
 

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