WHAT IS BUY TO LET?

Before the Buy to Let scheme was introduced, Landlords or Investors who wanted to buy a property to let had to do it as a commercial proposition and the interest rates offered would be higher than that of the standard mortgage for owner/occupiers.

The lenders would also not take into account the rental income achievable at the property with respect to the borrowers ability to meet mortgage payments.

Buy to let was launched in 1996 by the Association of Residential Letting Agents and the Mortgage lenders to help private individuals to invest in property to let without paying commercial rates or mortgage surcharges. The lenders will take into account the rental income achievable at the property, are offering competitive interest rates and therefore the buy to let market has become increasingly popular as a medium or long-term investment.

Over the past five years there has been a large growth in the Buy To Let market due to a number of reasons, including:-

A growth in the rental sector

Unstable stock markets

Low Interest rates

It is the view of many mortgage Lenders and housing professionals that this growth should be encouraged as we have the least developed private rental sector compared to other countries in the European Union.

Still a Good Investment ?
In recent years the Buy to Let Market in South Manchester Area has flourished, with Landlords reaping the benefits of rising property prices, and a good rental market. Whilst past performance is no guarantee of future events, historically, properties in the South Manchester Area have generally maintained and increased their values and the rental market sector seems to be growing year on year. The South Manchester area is very popular and has a lot of transient people passing through due to the large number of international companies, Manchester International Airport, and the general quality of life.

Why Choose a Letting Agent ?
When you buy a property to rent out it involves a different process to that of buying your own property and many mortgage lenders will want to know that you have been dealing with an ARLA registered Letting Agency. The ARLA agent will be able to offer good comprehensive advice, advise what demand there is for certain houses, rental figures and market fluctuation. The registered agent is regulated by the Association of Residential Letting Agents, holds professional indemnity, has bonded accounts and trained staff kept up to date with the latest regulations.

Click the logo to visit the ARLA site

Rooftops and Buy To Let
Rooftops Letting and Management have their own Buy To let Department which enables them to give good up to date advice to any potential investor and discuss the range of services on offer.

The Department is headed by two Partners, Jonathan Harari ARLA (ind), and Samantha Henshaw ARLA (ind), both of whom have over twelve years experience in the residential rental market and both know the South Manchester area very well. With over sixty properties let a month and offices based in Wilmslow, Bramhall, Hale, Macclesfield and Sale they can offer invaluable, up to the minute advice on what and where to buy.

The Service
Rooftops Letting and Management offer a comprehensive Buy to Let service for the potential investor. We will arrange a meeting with one of the partners to discuss your property requirements, budget and preferred areas. Then after instructions are given we will begin a full search and acquisition service aiming to fulfil the criteria you have given us.

What You Get
If you want to use Rooftops letting Agency Buy to Let service we want you to feel that you are getting a service second to none. Trust, unbiased advice and competent staff will make you feel that you are in good hands and after our initial discussions and following your instructions we will provide the following services.

Search the appropriate areas for properties within your price range and criteria and compile a list of possibilities to be forwarded or discussed with you.

Create a hit list of properties you prefer or we think are good investment possibilities and report on possible rents, improvements or any other recommendations we see fit.

When a particular property is chosen we will negotiate on your behalf with the agents, instruct and liase with Lenders, solicitors, and surveyors.

First Impressions Are What Count!
When showing prospective tenants rental properties first impressions really do count.

Your property needs to be the one that makes that impression, so it is vital to have the correct advice on the interior of your property.

We offer a full interior design service advising on furniture, colour schemes, carpets, and white goods and provide you with an example inventory covering the contents required.

What Does It Cost
The cost of our Buy To Let Service is 0.75% + VAT of the purchase price of the property chosen. We initially require a fee of £200.00 (non-refundable) paid in advance to begin our search and this fee will be deducted from the outstanding balance at the time of purchase.

Interested ? How Should I Proceed?
If you are interested in buying one or more properties or require any further information please do not hesitate to contact us either by phone or email:

John Harari : john@rooftops.co.uk

Samantha Henshaw : samantha@rooftops.co.uk

Or fill in the short questionnaire and we will
contact you and discuss your requirements.