property investment
Build your own path
Whether you want to flip a property, get your first buy-to-let or build your portfolio, we can help you achieve any of these! We understand everyone has different financial circumstances and goals which is why we look at the bigger picture, helping you lay foundations now that will also accommodate your future plans. You probably have a lot of questions about the costs and the risks involved with property investment, so go ahead, we’ve got the answers right below
your first buy-to-let
Ready for a new venture? Getting a buy-to-let property is great way of generating extra monthly income and in the long run another income stream when you retire or another form of pension pot. Property investment isn’t easy or risk free, but if you get your figures right and do the research, you can make sensible decisions which will result in a profitable buy-to-let property.
With residential mortgages you are typically required to put down a 10% deposit, whereas with buy-to-let mortgages you need to put down between 20%-25% of the property value. There are also other costs to factor in too: stamp duty, tax, maintenance and management costs.
Now that you’re becoming a landlord, you are responsible for getting the right certification, insurance and paperwork in place, along with maintaining the condition of the property.
We know it’s a lot to take in! So to get you started, have a read through some of our handy guides:
The Risks Involved With Buy-To-Let Properties
The Costs involved With Buy-To-Let Properties
Finding The Right Buy-to-let Property
Your Responsibilities As A Landlord
Remember:
When assessing your affordability, lenders don’t only look at your income they look at the rental income your property will generate.
Book a discovery call to find out about our Introduction To Property Investment Course here.
testimonial
“Recently contacted the team to assist in finding a BTL Mortgage. Was provided with a number of different quotes along with sound advice to help me decide which to take. The team are friendly and always willing to go the extra mile to help. Will definitely be using their services again.”
building a portfolio
If you have a few buy-to-let properties but want to expand your portfolio and become an established landlord, you’re going to need that extra bit of support.
The more properties you have, the easier it is slip up on things. This is why at The Money Partnership, we don’t just get the mortgage complete, we continuously guide you through the growth of your business to make your money work better for you and ensure compliance.
Before you start jumping into things, have a chat with us. It’s important we review the structure of your existing portfolio to make sure you can move forward tax-efficiently.
You might already have a dedicated mortgage advisor which is great! But, if you feel you’re not receiving the ongoing support that you need, look at some of the ways we take care of our landlords:
24/7 access to Sentry – our business management system that looks after all your property’s information, documents and visually represents the equity of your property/s
Ongoing mortgage and financial advice
Sent a regular ‘buzz’ on the property market
Access to our network of recommended businesses: from property maintenance, eviction services, tax specialists to solicitors.
When building a property portfolio, take a look at our guide.
Talk to us about your portfolio
renovations / property flips
If you have the cash, good credit and like a project, renovating a house might be for you!
It’s really important to get the figures right from the start, otherwise you could spend a lot of hard work and money to not make any profit.
Spotting a property for sale which is valued far less than properties in the same area or of the same size that cost much more, could be the sign of a good buy. At this point you need to get your researching hat on, you need to assess the condition of the property and work out what the repairs will cost to suss out if its worth buying.
For your first property flip, it’s a good idea to go for something that just needs a bit of a face-lift like a lick of paint and new bathroom/kitchen rather than structural changes like knocking down walls. You will need to set a budget and then stop yourself from going over this budget, remember this isn’t going to be your house so don’t get emotional!
Auctions and repossessions can be a great source for properties like this, but the purchase must complete in 28 days otherwise you could incur penalties. Also, as your goal is to ‘do up’ and sell the property in a short space of time, you’ll be needing a more flexible mortgage. But don’t worry we’ll talk you through all of this.
Talk to us about your goals
* Your home may be repossessed if you do not keep up repayments on your mortgage. Some forms of But to Let mortgage are not regulated by the Financial Conduct Authority