Buy To Let
When you decide to purchase a buy to let property, it is important to do your homework, you need to ask yourself this question “What returns can I get on my investment?”. Buy to let purchases can offer long term value and offer a good return every year if you do your homework and work out precisely if it is the right investment for you.
Buy to Let – Things to consider when buying an investment property:
- Type of property
- Location & Population
- Industries in the area (this could provide you with possible tenants)
- Maintenance, legal, estate agents costs
- Insurance (building and mortgage protection insurance)
- Expected Rental Income
- Taxable rental income
Talk to auctioneers in the area and get a feel for the type of tenants (i.e. families, professionals, couples, individuals etc) and how much rent that you can expect to get.
Once you have done your homework and you are satisfied that you can make a good return on your buy to let property, the next step is to arrange the mortgage approval, again it is important to do your homework to ensure that you receive the best possible deal to suit your exact requirements. Our panel of independent advisors will work with you to secure mortgage approval and ensure that your get the best mortgage deal to suit your requirements.
Mortgage Protection Insurance, some Irish banks do not insist on mortgage protection when purchasing an investment property, but financial planner would always recommend that you take out mortgage protection insurance as this would pay off any mortgage debt in the event of death occurring. Then the investment property in question would become debt free for your family which would offer them an income for the future. Using Financial Planner online insurance quotation and application systems you can avail of a quotation and apply for cover in minutes.