Are you ready to expand your property portfolio?

Are you ready to expand your property portfolio?

If you’re thinking about expanding your property portfolio, outside factors are only half the story. Your own finances and personal circumstances need to be stable before you make any significant investments.

 

The minimum deposit for a buy to let mortgage is usually 25% of the sale price, and you’re likely incur other expenses, such as landlord insurance and maintenance costs, on top of that.

 

A long-term investment like buy to let also means long-term responsibilities. Landlords have a wide range of legal obligations, including ensuring the residential property is safe and checking that all gas and electrical equipment is installed correctly. You’ll also need to stay up to date with any changes to lettings legislation.

 

Seeking professional advice can help you determine whether it’s a good time for you to invest in buy to let.

 

As your accountant, we can guide you through the process. We’ll work closely with you to ensure you get the best return on your investment. We can also use our tax expertise to minimise your liabilities so you can retain more of your rental income when you start letting out your property.

 

Thinking about purchasing a buy to let property in 2023? Contact us today to discuss your options.

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