Buy to let conveyancing
In 2017 – according to the Office for National Statistics’ most recent figures – there were 4.5 million privately renting households in the UK. This was an increase of 1.7 million from 2007. It shows how buy to let can be a real investment opportunity.
A stable income from monthly rent payments can be extremely appealing, making buy to let a continually popular investment.
But risks do exist, as do potential legal issues. You need to ensure you’ve completed all the proper procedures and paperwork before you can officially become a landlord. Whether you’re completely new to the world of letting or an experienced landlord, it can be complicated to arrange a buy to let mortgage and purchase.
At First4Lawyers, we can provide you with the expert help and advice of highly experienced buy to let solicitors to tackle any legal hurdles around your investment. For an instant quote for your buy to let conveyancing, try our calculator.
Buy to let legal requirements
As with buying a property you intend to live in, once the seller accepts your offer, you will need a solicitor to act on your behalf throughout the buy to let conveyancing process. They will make sure all the legal matters around taking ownership of a house are taken care of.
Your conveyancer will make sure there are no restrictions preventing you from letting your chosen property. They’ll also make sure you have the appropriate mortgage – as you’ll need a specialist buy to let home loan.
You’ll need to have a number of certifications in place and meet certain regulations before you can rent out your property. They include:
- Energy performance certificate
- Gas safety certificate
- Electrical safety certificate
- Landlord’s insurance
- Meeting fire safety requirements for furniture and furnishings (if present)
- Obtaining a House in Multiple Occupation licence (if necessary)