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Buying advice - conveyancing etc

guygamps · 2009-10-14 13:56:28

Hi, about to buy a 1 bed flat - for cash, will do it up and then rent it out. Its my first effort in buy to let business cash purchase means no mortgage, which means that there is no 3rd party with an interest on the propert, be that financial or structural. When applying for a mortgage you have to get a survey and…

Comments

Fire_Fox Posts: 26,026 Forumite

16 October 2009 at 6:09PM edited 16 October 2009 at 6:11PM

If it's a leasehold flat then there absolutely is a third party with an interest on the property: the freeholder, and you may need to seek his permission to let! There are also a whole host of queries that need to be put to the management company, and the long lease needs going over with a fine tooth (professional) comb. Have you factored income and capital gains tax, service charges and vacant time into your sums to ensure this BTL is a sound investment?

Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
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