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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:

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. 

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.

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.

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.

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.

  • 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. 

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. 

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

We recently used Winston Solicitors for conveyancing on both the sale of our previous home and the purchase of our new one. Michelle Ayres was exceptional throughout. She was accessible, proactive, and it genuinely felt like she was on our side and working in our best interests.There were a few challenges in the chain, but Michelle was always willing to take the time to explain the situation, outline our options, and keep everything moving. As our process stretched over 6 months, there were times when Michelle was out of the office, but Olivia Cooke and Samantha Robertson-Strong seamlessly picked things up and ensured nothing ever slipped.It was an outstanding experience that made a difficult and often stressful process far more manageable. We would highly recommend Winston Solicitors and especially Michelle to anyone, and we will certainly look to use their services again in future (although we plan to enjoy our new home and give ourselves a well earned break for now!).
Glenn
Amr and Joe are responsive and helpful, very professional.
Tracy M, West Yorkshire
Samantha was excellent at helping us secure our house. She was extremely responsive, organised and thorough in her work.I would recommend her and Winston solicitors to anyone.
Mr Peterson a
Sidraa and Tom were incredibly thorough and kept me up to date in a timely manner. Would recommend!
Alexandra
Amr and Joe recently acted for me on the sale and purchase of properties. They were both very professional, responsive and promptly dealt with any enquiries. My experience with Winstons was really positive having used other firms for previous transactions. I would definitely recommend to family and friends!
Ruth
I purchased my first house through Winston Solicitors. The experience I had from start to finish was amazing. I will definitely recommend Winston Solicitors to my family and friends and will be using them again in the future.
Aruna
Samantha Robertson-Strong has dealt with the conveyancing for the sale of my property and purchase of a new home. Throughout the process of selling Samantha dealt with queries from the buyers promptly and professionally. This included one particular hiccup, that threatened to delay and complicate matters, by simply advising on a point of law that the buyer’s solicitor was seemingly not aware of.The purchase of our new home was dealt with in a similar manner, no stone left unturned, fast paced and with regular up dates on which stage we had reached. We felt well informed and in good hands throughout the process.Fast to respond, no flannel and an in-depth knowledge of property law Samantha is exceptional and I would recommend her services to anyone about to buy or sell a property.
Elizabeth
We worked with Leasa at Winston Solicitors for our house move and she was absolutely amazing from start to finish. She really went the extra mile for us! Her communication was impeccable, she was friendly, knowledgeable, and assertive when needed. When the chain became difficult and the completion date was at risk, Leasa went above and beyond to make sure everyone got over the finish line. You always hear horror stories about slow or unhelpful solicitors, but Leasa was a complete breath of fresh air. The whole process felt smooth and well-handled thanks to her. Couldn’t recommend her highly enough!
Christopher
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