Get the right advice!
Are you looking to purchase a property to live in or for an investment as a Buy to Let? Even if you have purchased properties in the past this is still likely to be the biggest financial commitment that you make in your lifetime, so it might be wise to obtain some financial and legal advice before embarking on that purchase. Likewise, if you’re thinking of renting a property think about the commitment that you are going to make when signing a tenancy agreement, always consider affordability and know your rights as a tenant.
When you are looking to purchase a property to live in or to let you need to make sure that you receive the correct financial advice and that financial advice needs to be sought at the right time in the purchasing or letting process.
You could seek financial advice before even venturing to put your foot on the first rung of the property ladder or agreeing to your first tenancy. Always choose a Financial Advisor, Accountant or Mortgage Advisor, there are many professionals in your local area who have the relevant experience and qualifications and they are just waiting to advise and assist you with your property purchase or tenancy agreement. These professionals can help you to navigate your way around some of those nasty pitfalls and horror stories that you’ve heard of but aren’t familiar with. When you have taken the right financial advice you will be armed with the correct information regarding affordability, and any legal obligations that you might have before you start committing yourself to that dream home or major investment. When you are purchasing a property as a Buy To Let and you become a landlord there are several legal obligations that you need to aware of, it might be worthwhile discussing your obligations as a landlord with your local letting agent so that they can guide you through the process, give you an informed opinion of the local market place, advise you on the rent that you’re likely to receive for your property and even manage the advertising and letting of the property for you.
When seeking any type of financial or legal advice ALWAYS make sure that you CHOOSE a PROFESSIONAL organisation. You could ask friends and colleagues for their recommendations, check websites for reviews and feedback and use your own judgement on whether the person that you’re taking advice from knows what your requirements are, and offers sound advice.