A new buy to let guide has been published by the mortgage lending arm of the Nationwide Building society – The Mortgage Works. As well as providing in-depth advice to those considering becoming a buy to let investor, the guide is also aimed at existing landlords, with tips and advice covering numerous topics.
Inspired by the rapid growth of the rental sector and the lack of information available to would-be buy to let investors, the 84 page booklet offers information on funding, taxation and legal obligations. It also explains how to forecast returns realistically, taking into account all costs and variables.
The Mortgage Works’ managing director, Henry Jordan, said: "It is important that our customers understand and meet their obligations as landlords, and it makes sense to share our expertise to enable them to do so more easily.”
Mr. Jordan pointed out that with so many new entrants to the buy to let market, it was important investors fully understood the complexities and obligations of being a landlord.
The number of buy to let investors in the UK has been increasing steadily in recent years, partly due to low mortgage approval rates, which has driven demand for rented properties. The HMRC says annual revenue from buy-to-let investors has increased by 10 per cent, demonstrating the growth in the buy to let sector.
If any of our buy to let insurance clients are interested in the new publication, The Mortgage Works’ ‘Ultimate Landlord Guide’ is available to download now, with mobile and interactive versions to follow soon.