As far as investments go, property is one of the safer bets. Buying a house to let out can be a safe and profitable way to put spare cash to use, and a good way of expanding your assets. While some approach letting as a purely commercial exercise, parents may also buy a place for their children, which they then charge them rent for. This can be seen as investment in both your and your familys future.
Mortgages available for letting property used to be subject to higher rates of interest than standard residential mortgages, but in recent years this has changed. In an active attempt to encourage growth in the private rental sector of the market, interest rates have been lowered and criteria made more flexible. This led to a boost in the amount of properties being bought as income-producing investments.
The Association of Residential Letting Agents (ARLA) run the Buy-to-Let initiative, designed to encourage private investing in the letting market. Taking on an agent can help boost the confidence of your lender that you know what youre doing a letting agent will advise you on suitable property and how to manage it. Under a bonding scheme that members of the ARLA...
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