Buy to Let Frequently Asked QuestionsEverything you need to know about Buy to Let
Why do I need to use a Letting Agent?
Because there is no substitute for local knowledge and expertise when choosing or letting a Buy to Let property. We've been in the business long enough to have let most types of property in most streets within our marketplace. We know what is achievable and what is frankly sometimes pie in the sky! We'll select the right tenants for you and help you avoid costly and distressing mistakes.
Why choose Linley and Simpson?
Because our advice will be independent and accurate. We don't over-value just to get your instruction because we value our reputation, we're in business for the long term and mainly because we want to be able to let your property once we have it! Other reasons to choose us.
Where should I buy?
Some Landlords feel reassured by only buying in areas that they know well whilst others are simply not interested in the geography, only in the financial return. Both approaches can work out well if you're open to our advice. We won't claim to be able to predict every new hotspot but we can certainly tell you where major developers are active, where other investors are buying and where major new transport links or facilities are planned.
What type of property should I buy?
This usually depends on the location in which you want to buy and the level of local competition but as a rule smaller properties will let more quickly. Whatever the type, all properties need to be well-maintained, modernised and well-decorated catering to as many people's tastes as possible. Try to balance your own tastes with those of your target market.
Do you offer Buy to Let mortgages?
No, but we have links with reputable companies who can help. Just ask our staff for details.
Do you offer insurance products?
Yes, we are approved by the FSA to offer Landlords insurance on buildings and contents and Tenants contents insurance. We have a link with Homelet, the largest provider of specialist Landlords and Tenants insurance in the country. View our Homelet Insurance option.
Can you guarantee my rental income?
We can set up preferential rent guarantee insurance for you via Homelet which will include free legal costs insurance. Good Agents have fewer problems with Tenants but there are always risks associated with any form of investment so this product is there to provide you with complete peace of mind should you require it. View our Homelet Insurance option.
Will I pay tax on the rental income?
You are required to declare any income from property but you can usually offset most, if not all, of your expenses against it. In our experience tax liability is not usually a deciding factor in Buying to Let, however, if you wish we can recommend tax accountants to you. Special rules apply if you are living overseas for six months or more in any one tax year.
More detail can be found in our Landlord's Guide to Letting.
Is there any legislation that I should be aware of?
Yes, there are a whole raft of legal obligations and restrictions which are growing all the time. This is why we recommend that you choose a reputable Letting Agent to act for you. Always look for the ARLA logo. See our Landlord's Guide to Letting for more details. We always ensure that we are at the forefront of any changes and will help you comply with your personal obligations.
What should I do first?
Contact your nearest Linley and Simpson branch and our staff will guide you through the whole process from choosing the right property to moving your first tenant in. Find your nearest branch
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