Buy to let | Winston Solicitors UK

Here at Winston Solicitors, we can act for you if you decide to buy property for investment purposes.

How to plan your buy to let purchase

You will need to plan your buy to let purchase carefully. This will involve:

Choosing a mortgage broker/financial advisor

Ask friends or colleagues to recommend a mortgage broker or financial advisor or contact your bank or building society directly. They should be able to discuss the affordable options with you and help you choose the best mortgage to suit you.

Obtaining tax advice

You will be liable to pay Stamp Duty Land Tax at the higher rate if you will own more than one property on completion. Your conveyancer will complete the Land Transaction Return (Stamp Duty Land Tax Form) for you to sign, based on the information that you provide. If you think that you do not need to pay the higher rate, you should obtain specialist tax advice from an accountant or financial advisor.
You should also ask your accountant or financial advisor to provide income tax advice and capital gains tax advice.

Choosing the right property

Think carefully before choosing a property to invest in. Would you prefer a newer property or an older property? An older property might give you the opportunity to add more value.
If the property is let, or is going to be let, to more than three people who are not from the same family, it will be a House in Multiple Occupation (HMO). You will need to comply with all the rules and regulations relating to HMOs. Some lenders will not lend on HMOs.

For you conveyancing needs call 0113 320 5000

Check your lender’s requirements

Your lender will impose additional “Buy to Let” conditions, which will include conditions relating to the type of tenancy agreement and the nature of the tenant. For example, some lenders will not lend on HMOs (see above) or on student lets, and many lenders will require short term assured shorthold tenancy agreements. You should check your lender’s requirements with your mortgage broker/financial advisor or your lender.

Choosing a surveyor

Ask friends or colleagues to recommend a surveyor. Your surveyor will be able to carry out a survey and tell you how much rent the property is likely to yield.

Considering existing tenancy agreements

Any existing tenancy agreement must comply with the lender’s requirements. Any deposit paid by the tenant must be registered with an approved deposit protection scheme.
Up to date gas certificates and electrical certificates must be supplied.
All other relevant rules and regulations must be complied with.
Your conveyancer will raise appropriate tenancy enquiries and will discuss the replies with you.

Budgeting for costs and fees

You will need to budget for all the costs and fees relating to your investment purchase, including your survey fees, mortgage broker’s fees (if any), buy to let property insurance, legal fees and stamp duty land tax.

To speak to us about our conveyancing service call 0113 320 5000

Choosing and communicating with your conveyancer

Speak to family, friends and colleagues, to see if they can recommend a good conveyancer. You need to have confidence in your conveyancer. A good conveyancer will ensure that the process is as smooth as possible but will also raise all necessary enquiries. The process will involve form filling, document signing, telephone calls and emails.

You will be speaking to your conveyancer a lot during the process. Your conveyancer will be able to reassure you and address any concerns that you have.

When you are purchasing a property it is advisable to make or update your will to ensure any assets in your estate are distributed as you choose.

Ask for a free conveyancing quote by calling our conveyancing team on 0113 320 5000.

Contact Samantha today

Samantha Robertson-Strong

Conveyancing executive

0113 320 5000

@email

Leasa was great at keeping me informed at the progress of my conveyancing transaction (or lack of progress from the other side!). She was relentless in chasing contact from the other side, with numerous emails and phone calls, and firm with the other side when needed.

Robyn
Professional service, pushing progress at all times.

Lee
Winstons is our family Solicitor that we use for all legal requirements. They are professional and highly efficient in all departments. We have used Wills, Trust and Probate (Howard) and the Conveyancing Department (Samantha) who are second to none and as someone else has said in a previous review "makes everyone else look like Amateurs".

Debra
Winston Solicitors and their Conveyancing Executive, Samantha Robertson-Strong, are excellent. We had three property transactions to simultaneously complete, and they handled everything with such confidence. It goes without saying that moving house is stressful, but Samantha made the whole process as painless as possible.

Mr Corns
We were very impressed with the service and the attention to detail Winston Solicitors gave to protecting our interests in relation to the process of our house purchase. We would have no hesitation in using their services again or recommending them to others.

Mr & M
Very much satisfied with their service.

Anonymous
Leasa, from Winston Solicitors, helped with the sale of my property. Communication was spot-on from day one and throughout the process - making it hassle free. Highly recommended.

Craig
Winston Solicitors recently took care of my sale and purchase (of a listed building). The service was impeccable and I couldn't recommend them highly enough.

Joe
Leasa was so helpful throughout the whole process, answered all of our questions and was available whenever we needed more information or guidance.
This experience made everything go very smoothly with the step by step breakdown of what we needed to do at each stage, regular updates of where things were at and what we were waiting for next.

Dominic
Helpful efficient and proactive

Anonymous
Sidraa, was an extremely efficient solicitor and very thorough with her work. Will most certainly be using her/winston’s again in future. Many thanks to you Sidraa.

Jackson
Excellent work from Sidraa. She was quick and efficient at replying to enquiries and completed within reasonable timescales. Thank you

Farzana M
We were recommended to use Winstons solicitors and in particular Leasa Foster by the estate agent (Rhys Elvins) that we were buying our house from.

Sandra
I have been very happy with the service provided. I am now using for another property which I am hoping goes through quickly

Susan
Sidra was prompt and efficient. We felt looked after.

Mr Gumbs
I have been very satisfied with all the work completed by the conveyancing team at Winston's. The team is friendly and have worked hard to complete the sale of the property on our behalf, under quite difficult circumstances.

Elaine