When buying to let the purchase process is similar to an “ordinary” residential property purchase although there are additional considerations and certain pitfalls to avoid. For example if you are looking to let a leasehold property your solicitor will need to ensure that the lease permits you to let the property and if you are buying with the aid of a mortgage your lender is aware and consents to the transaction. There are also certain tax implications as Income Tax must be paid on the rent, Stamp Duty Land Tax on the completion of the purchase and Capital Gains Tax when you eventually sell. We have links with specialist buy to let brokers and any member of our team will be able to help you with the intricacies of such transactions and to avoid those pitfalls.
Wills, Inheritance, Trusts and Probate & Residential Property & Conveyancing | BTMK Todmans