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Prepare groundwork for buy-to-let

MAKING sure you do your homework before purchasing a buy-to-let property is the best move you can make, reveals a survey by Birmingham Midshires, specialist lender of the Halifax Group.

The company asked its existing buy-to-let customers what advice they would offer potential private landlords and what they liked and disliked most about being landlords themselves.

Some 43 per cent of respondents said the one piece of advice they would offer is to make sure you investigate everything thoroughly before leaping in at the deep end.

The second most popular piece of advice from nearly a quarter of respondents (23 per cent) was not to buy a property which needs a lot of maintenance and a further eight per cent recommended getting the advice of an estate agent who specialises in letting properties.

Michael Bolton, head of mortgage marketing at Birmingham Midshires, said: "This is all sound advice from people who are themselves private landlords."

In order to help would-be landlords when entering the buy-to-let market, Birmingham Midshires has produced a free guide. It is available by contacting 0500 228822.

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