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Monthly Archives: January 2015

Make Sure Your Tenanted Property Is Properly Maintained

As a landlord, you have a duty to maintain the property that you are renting out to a tenant so that it is perfectly safe for them and their family to reside in. You must ensure that it meets all the appropriate regulations and that things like gas appliances are checked when required to do so. The implications of not doing so could be serious. Potentially, in certain situations, you could be putting at risk the lives of your tenants or placing them in danger of suffering serious injury. The consequences on a landlord not maintaining such a property could also be serious as indicated by one case that recently went to court up in Manchester. Apparently, a landlord was prosecuted earlier this month for not having undertaken certain repairs to a property that he let out. The tenant had complained about the state of the property they were renting and the property was inspected by local housing officers. They found a number of things that concerned them. For instance, a smoke detector had not been fitted downstairs. There was a problem with the bedroom windows as they could not be opened at the bottom. The back door was very…

How Much Are Your Buy to Let Mortgage Repayments?

If you are a landlord, unless you are fortunate enough to have sufficient savings to be able to buy an investment property outright, it is likely that you will need to borrow some of the funds necessary to buy a property to rent out to tenants. The most popular way of doing this is by arranging a buy to let mortgage through one of the major banks or building societies. With interest rates so low it is often one of the most financially viable ways of raising some of the funds. When looking into arranging a buy to let mortgage you will need to consider various aspects of the package being offered by the lender such as the interest rate and the fees. However, did you realise just how much per annum landlords are spending on repayments for such mortgages? Well, according to research carried out by the National Landlords Association (NLA) the total amount of repayments in the last year on this sort of mortgage came to a hefty £21.9 billion. When you consider that it is estimated that in the region of 1.05 million landlords have buy to let borrowing that works out at an average of almost…

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