Professional guidance on your property investment
ALREADY enjoying a busier-than-ever start to the new year, Lakin & Co has been inundated with enquiries from new landlords looking to invest in property.
If you are also considering investing in property then there are a number of basic points as a diligent buy-to-let landlord you should consider before taking the plunge and putting your money into bricks and mortar. Of course, it’s also important to have an idea of what to look out for in the year ahead, according to the team at Lakin & Co.
Research is key to any successful investment and Lakin & Co assists and guides many clients daily to help them decide which rental property would work best for them, whether they are buying their first rental property or another to add to an existing portfolio.
Lakin & Co’s experienced team know how to point buyers in the right direction and help to make the most of their property investment.
From providing each client with honest, accurate advice on the rental figure they’re likely to achieve, what level of demand could be expected and their target market, Lakin & Co is always on hand to best advise.
Many of Lakin & Co’s clients use their recommended independent and whole of market mortgage broker to help secure the best mortgage product for them, ensuring their profit is maximised. Getting this right at the start will pave the way to success.
There are changes ahead for landlords with the Chancellor George Osborne announcing new plans in last year’s autumn statement which will affect buyers who already own one or more residential properties looking to purchase a second home or a buy-to-let investment.
Landlords will be hit with a 3% surcharge from April 1, a measure which is intended to offer more support to first-time buyers looking for affordable housing solutions.
“Investors will now need to factor this extra cost into their budget, and while this has been seen as another ploy to tax landlords, the
Lakin & Co has been dealing with a flood of enquiries from new landlords since the start of the new year.
government’s reasoning is that it will help struggling first-time buyers compete with investors,” said director Chris Lakin.
“Naturally what we are likely to see is a surge of investors come forward in attempt to buy before the April deadline in order to avoid the additional cost, this is will in turn make finding the right property even more difficult in a market already suffering from a shortage of affordable properties.”
If you are considering investing in property then call 01895 544 555 to talk to one of the experienced team members and see how Lakin & Co can help you find the right investment property.