Your first buy to let

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Taking the Plunge: Your First Buy-to-Let Property

The idea of owning a buy-to-let property can be very appealing. Regular rental income, a growing asset, and potential capital appreciation – it all sounds very promising. However, before you dive headfirst, it’s crucial to understand the process, the risks, and the ongoing responsibilities involved. Here’s a breakdown to help you navigate your first buy-to-let journey:

Check out our brief video below ⬇️

Most Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority.

Buying your first buy-to-let property and becoming a landlord is both exciting and nerve-racking. From the initial conversation, where you will understand your budget and what properties you can afford to buy, to your mortgage rate options, the legal process, the surveyors process, and everything else you need when buying your very own buy-to-let property; your mortgage broker will be there for you every step of the way to assist. 

Buying your first buy to let property is becoming an ever-increasing challenge as with the recent tax changes on how rental income is taxed and the additional 3% stamp duty careful planning is needed to ensure you’re all set up correctly. Indeed a large proportion of mortgage lenders now don’t accept applications from first-time landlords so even getting the mortgage for a buy to let first time around has gotten tougher.

Excellent
Based on 52 reviews
Georgiana Olescu
Georgiana Olescu
2024-04-10
Paul is an amazing broker, very helpful, responsive to emails and patient with customers. The process with him was quick and easy as his work ethic is impeccable. We are beyond impressed and happy with his services and that we got to work with him.
Valerie O
Valerie O
2023-12-28
Exceptional service provided by Paul, I could not have asked for better. Definitely does his due diligence and goes above and beyond. Highly recommended!
Bonnie Frost
Bonnie Frost
2023-12-25
Paul is a fantastic advisor and guided my husband and myself through the entire process of buying our first home, he made the entire process feel easy and we were well informed along with great communication and fast action. We completed within 3 months of contacting Paul.
Johnathan Lowery
Johnathan Lowery
2023-11-16
Working with Paul has been a hugely positive experience. Paul took the time to understand our needs and financial situation, ultimately securing us a mortgage deal that we would not have been able to obtain on our own. His guidance and patience over an extended time was invaluable in guiding us through a volatile period in the property market. I highly recommend working with Paul at Your Property Financial.
Adeel Sarwar
Adeel Sarwar
2023-10-02
It has been great working with Paul. He helped us to redeem our help to buy equity loan which didn't seem possible to me when I first contacted him. It took much longer than expected due to many obstacles but Paul explained every step of the process very clearly and he regularly communicated with me to ensure the remortgage went through as efficiently as possible. I would definitely recommend working with Your Property Financial.
Jessica
Jessica
2023-08-29
I would highly recommend Paul as a mortgage broker. As a first time lone buyer I began the process feeling very out of my depth, particularly in a market where mortgage rates are very high. But from the get go Paul provided reassurance and practical guidance and has been immensely helpful throughout the process. I've really appreciated his responsiveness, honesty and support.
Louise Griffiths
Louise Griffiths
2023-08-28
I reached out to Paul 2 years ago and giving this review now because I wanted to ensure that I could give a true review of what benefits I have experienced from using his service. I am thrilled with the financial expertise given to me by Paul. His skillful negotiation secured me an excellent mortgage rate within a short turn around time. This has not only set me on the path to paying off my principal balance but has also allowed me to simultaneously build a solid emergency fund. His initial guidance has been invaluable in shaping my financial future. I look forward to working with Paul again, once my 5 year plan is near its end. Highly recommended!
Calum Hebron
Calum Hebron
2023-08-05
Paul has been consistently excellent, ensuring we got the best possible mortgage deal at a time when rates weren't great. Paul worked with us to understand our financial complexities and went above and beyond to ensure they were understood by mortgage providers. We've been made to understand every stage of the process, and as first time buyers we were able to feel confident in the decisions we made. I would highly recommend working with Paul at Your Property Financial.
Czarina
Czarina
2023-08-04
My almost a year-long journey with Paul as my broker has been truly amazing, despite a few hiccups during the mortgage process. Working with him has been the best decision ever! As a first-time buyer, I lacked knowledge about purchasing a home, but Paul's guidance and expertise were outstanding. He explained things in a clear and concise way. What impressed me the most was Paul's responsiveness. He promptly addressed all my questions and concerns, never making me feel like a bother. Even when I faced challenges, Paul's determination and problem-solving skills were unwavering. I felt so supported throughout the entire process. Thanks to Paul's unwavering support, I managed to reach this point. I highly recommend him to anyone, especially fellow first-time buyers. Paul's knowledge, patience, and reliability are unmatched. He's not just a broker; he's an invaluable ally in this complex process. Thank you, Paul!
Alistair Prestidge
Alistair Prestidge
2023-07-11
Paul helped me to get my Mortgage approved in less then 48 hours! He has been great and I can’t recommend him highly enough. His communication is excellent, and he helped me understand each stage of the process easily. Thank you so much for helping me buy my very first home! I will most certainly be recommending Paul to friends & family!

Check out whether you want to be considering purchasing the property in your ➡️ personal name or a ltd company.

You could also become what is called an “accidental landlord” i.e. you’re looking to move from your current main residences, rent that out and go on to buy a new home to live in; whilst still retaining ownership of your previous home and renting it out.

This is called a ➡️ let to buy mortgage, check out more here

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your property financial - mortgage broker advice

Introducing Your First Buy to Let: a comprehensive guide to help you navigate the world of property investment. Discover the best buy-to-let mortgage rates available in the market today. Whether you’re a seasoned investor or new to the game, this resource will provide valuable insights to ensure your success.

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The first thing to do is start speaking to a mortgage broker to understand your options.

Most importantly they will help manage the whole process for you and will actively engage with all the other parties in the process, like the estate agents, solicitors, surveyors, and of course the mortgage lender you proceed with to ensure everything is progressing in the right direction. 

Buy-to-let lenders will lend you typically up to 75% (Some go up to 80%) loan to value. This will be based on the rental income that the property is likely to achieve, as confirmed by the surveyor the bank will send around once your application is submitted. 

It is important therefore to get a good idea realistically in its current condition what the property would rent out for. This is an important point as if you feel the property needs fairly significant works you either may need to put a bigger deposit down or consider a ➡️ refurbishment buy to let mortgage

Once you have that realistic market rent figure speak to your mortgage broker to go through the options available to you.

Every lender has their own buy to let affordability and stress test calculations and therefore it’s important to get advice in this area so speak to a mortgage broker. 

Being a first-time buy-to-let buyer does mean you need to do some extra preparation to ensure you’re successful at the mortgage application stage so that you are able to buy the property that you wish. 

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