Buy to let

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.

Advice for getting a mortgage
Obtaining tax advice
Choosing the right property
Your lender’s requirements
Choosing a surveyor
Existing tenancy agreements
Budgeting for costs and fees
Choosing a conveyancer

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.

Client feedback

Sidraa and Paulo were brilliant and faultless. We have gone through the conveyencing process twice before and found the whole experience very frustrating. It was refreshing and very pleasing to find that the team at Winston made sure we were fully informed as things progressed, responded promptly to all of our requests and were friendly and approachable throughout. Highly recommend.

Anonymous

I highly recommend the services by Winston Solicitors. My solicitor went above and beyond to complete the conveyancing process during my house purchase. She always remained accessible and was available to answer my queries at all times. Her instructions were always crystal clear and i was continously updated to ensure i am aware of any progress. Winston Solicitors should be your first choice if you are wanting to work with highly professional individuals.

Nusrhat

Really efficient and helpful, especially Amanda and Olivia. This was a whole new experience for me and other people gave me much longer dates for expected completion whereas Olivia managed to complete everything in a comparatively quick time even when unexpected situations arose, thank you.

Anonymous

Really helpful and responsive. Used them for my remortgage which included taking someone off the deed and making the mortgage for me only and it was all very smooth and I felt very well informed throughout. Felt like good value for money. Would use again.

Katrina

Fantastic experience!After a couple of previous houses unfortunately fell through over the last year, alongside a few other issues, we ended up dealing with four different conveyancers over a two-year period. Our frustrating experiences with the first three corporate firms are what ultimately pushed me to go local and choose a smaller company and I am so glad I did!The entire process with this firm was incredibly smooth. Michelle replied promptly to every single query and the service was still very reasonably priced. Even our estate agents remarked on how impressed they were with Michelle's quick responses and ease of communication.Whenever I had a question, I knew it would be answered often on the exact same day via email and we received constant, transparent updates as milestones were completed. I vastly preferred this direct, human communication over the overly complex online portals I had to use with past firms.I would highly recommend Michelle and this firm to anyone looking to buy a house, especially first-time buyers who want a stress-free experience. Thank you so much!

Miss Dawson

Amazing service from start to finish, Our questions were answered quickly and there were no holds up from our side of the house sale what so ever. Would 100% recommend and use in the future. Special thank you to Samantha & Aishah.

Robyn

We were really impressed with the service that we received from both Leasa and Julie. The process was efficient, communication was great and we liked the online portal where you could see the progress of the sale/purchase easily. Despite some delays from our buyer’s solicitor, both Leasa and Julie seemed to push this daily for us to complete on time. We would recommend Winston’s to others and will use them in the future if we move again!

Charlotte

As first-time buyers, we couldn't have asked for a better solicitor. The whole process was explained clearly from start to finish, and every question we had was answered promptly and professionally. They kept us updated throughout, making what could have been a stressful experience feel straightforward and manageable.Michelle's attention to detail, efficiency, and friendly approach gave us complete confidence every step of the way. No question felt too silly! We would highly recommend their services to anyone, especially first-time buyers. Thank you for helping us buy our first home! Thanks, Michelle / George & Annie :)

George