Buy to let mortgages
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Buy to Let Explained: Step by Step Guide

  1. Calculate how much you can afford to invest.
  2. Find out about other costs (e.g. solicitors, stamp duty, survey/valuation fees, broker/lenders fees etc.)
  3. Decide which solicitor you are going to use
  4. Research the market. What type of buy to let property will provide the best returns (i.e. increase in value and rental returns)? Will you manage the properties or will you employ somebody else to manage them for you? For more information on innovative letting and property management please view our Landlord Services section
  5. When you have found the right property, and used The Money Centres online buy to let quotation system to ensure that the property makes a sensible proposition from a financing perspective, make an offer
  6. When the offer is accepted, tell your solicitor the basis of the deal you have agreed. NOTE: From this point onwards you are spending your own money. The vendor does not have to sell the property to you until you have exchanged contracts. They could, for example, choose to pull out or increase the price and you would have wasted your money. You need to exchange contracts quickly to stop this happening to you
  7. Our recommended suppliers will calculate and recommend methods of maximising your returns and minimising your risks by choosing the right mortgage products to suit your strategy for now and the future. Your funding strategy is important far beyond the point of buying the property. You need to ensure that the mortgage facilities you arrange can easily be increased in line with rises in the value of your properties. This is a vital component of a strategy to build an increasing portfolio of properties
  8. Contact the vendor's agent on a regular basis to report your progress and to check on progress with your property. Progress reports to the vendor and/or their estate agent will significantly reduce the risk of you losing the property at any point. Advise them what is outstanding and what is being done to progress matters. Report to them every four days
  9. Speak to your solicitor on a regular basis (good ones will call you), ensure they are chasing other involved parties. The Money Centre's recommended suppliers will coordinate the application, chase the lender, any professionals involved and employer's references etc. and report back to you regularly to help speed up the transaction
  10. Once you are close to exchanging contracts please contact The Money Centre again to find out how we can help you to Find a Tenant quickly and secure your cash flow by ensuring you receive your Rent On Time.