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

We couldn’t recommend Leasa highly enough. She was absolutely brilliant throughout the entire process of buying our first home.The purchase ended up being a fairly long and complicated process, with a number of delays and issues along the way, but Leasa was incredibly patient, responsive and reassuring throughout. She always took the time to explain things clearly, answer our questions and make sure we understood what was happening, which made a huge difference as first-time buyers.We always felt that she genuinely had our best interests at heart and was working hard to keep everything moving, even when things were outside of her control. Her communication was excellent, and we always felt we could get in touch whenever we needed help or clarification.Buying a home can be stressful, but having someone as knowledgeable, helpful and kind as Leasa made the whole experience so much easier.We’re incredibly grateful for everything she did to help us finally get the keys to our new home. We wouldn’t hesitate to recommend Leasa to anyone looking for a conveyancing solicitor, and we would absolutely use her again in the future.Thank you so much, Leasa!

Hannah

We used Winston recently for conveyancing, we are a slightly unorthodox and there were changes along the way. They were accommodating and patient with excellent regular comms. Recommended

Lee

Great service and felt like I was kept in the loop at all times. Thank you all

Wala

We used Winston Solicitors (Olivia Cooke and Amanda Lester) to both buy and sell a property. They were both incredibly proactive, easy to contact and made the whole process very easy. They have a fantastic online portal which tracks the progress of your sale/purchase so you always know what’s coming next and what is still to do. I would recommend using Winston Solicitors to everyone and will definitely use them again in the future.

Kate a

Michelle and Aishah were both very professional and helpful. This wasn't a straightforward conveyance but they had the relevant expertise to complete the sale without a problem.

Caroline

I used Winston Solicitors to sell our house and they were brilliant. Amr dealt with all the paperwork quickly and kept us updated the whole time. They made the entire sale smooth and stress free. We would definitely use them again and recommending them to family and friends.

Mohammed

I have worked with Winston Solicitors on a number of different legal matters, most recently conveyancing. On each occasion, they have been professional, friendly and helpful throughout. Whether providing advice, responding to queries, or simply keeping me updated on progress, their communication has always been excellent.I would have no hesitation in recommending Winston Solicitors and would be very happy to use their services again in the future.

Anonymous

Leasa Foster was extremely efficient and professional in handing out purchase.She was very experienced and able to advise us on potential legal issues before we even started progressing with searches.I would highly recommend her services.

Michael