How to deal with landlord insurance claims

Daniel LeesInsuranceLeave a Comment

Almost all landlord insurance policies require you to inform the insurer immediately (or ‘put them on notice’) in the event of a potential claim. Doing this too late could give your insurer grounds to refuse or reduce your claim. Don’t leave that gap: tell them quickly and do it in writing. If you’re not certain there will be a claim, … Read More

Do you really need landlord insurance?

Daniel LeesInsuranceLeave a Comment

Ah, landlord insurance. It can be like a trophy wife: expensive, difficult to understand and what you get is not guaranteed. So, do you really need it? And if so, what kind? We’ll look at four main types of insurance that are relevant to you as a landlord: Buildings insurance Contents insurance (if your property is let furnished) Rent guarantee … Read More

Buy-to-let mortgage guide: How to choose a loan

Daniel LeesMortgagesLeave a Comment

Apart from the numbers (see How much can you borrow), a buy-to-let mortgage lender will look at you, the property itself and the tenants you plan to put in it when deciding whether to give you a loan. Buy-to-let mortgage requirements for you With a bog-standard buy-to-let purchase, lenders won’t comb through every last soy latte receipt, as they’d have … Read More

Buy-to-let mortgage guide: How much you can borrow?

Daniel LeesMortgagesLeave a Comment

If you intend to let out your former home long-term — or if you’re buying a buy-to-let property — you’ll need to get a buy-to-let mortgage. Coined as a world first by Britain in 1996, these loans are based on what your property would let for, instead of – as for residential mortgages – what you earn. Fees can be … Read More

Why you can’t let your home on a residential mortgage

Daniel LeesMortgagesLeave a Comment

You might think that, as long as you pay your residential mortgage, your lender won’t notice or care if you start letting out your home, right? Wrong. Strictly speaking, you would be committing mortgage fraud. Though less serious than taking out a mortgage under false pretences, this would still breach the contract that you signed with your lender, in which … Read More

What to budget for in running a rental property

Daniel LeesLettingsLeave a Comment

When it comes to running costs for your rental property, you can try and budget for every last key, stamp and phone call, but the only certainty is that you’ll be wrong. We try to be wrong in the right direction, with broad but pessimistic estimates of: Mortgage repayments. If you have a mortgage, this will almost always be your … Read More

How to get your rent valuation right

Daniel LeesLettingsLeave a Comment

Let’s get one thing straight: the market, not the landlord, dictates the rent. Forget about asking £100 a month more just because your mortgage rate is up. Laid-back tenants who have stayed on for years without a rent rise might oblige, but the rest will take their business elsewhere. Beware, too, of letting agents who butter you up with inflated … Read More

What to budget for when buying a property

Daniel LeesProperty marketLeave a Comment

To help beginners buying an investment property, we include typical amounts to budget for: The property itself. Your biggest cost by far. To buy with a buy-to-let mortgage, you’ll need a deposit of at least 25%. Your purchase price will of course be clear if you’ve already paid it, but it’s not that simple if you’re looking to buy. The … Read More