Whether an individual is looking to invest their life savings to generate extra income in retirement or a business seeking to maximise its return on capital, buy-to-let properties can be an important part of a portfolio but one where the advice of an experienced residential conveyancing solicitor will be invaluable to avoid costly problems.
If someone is thinking of buying just one extra home outside the main property in which they live – perhaps parents providing a base for student offspring – then the procedure for choosing a house, arranging a mortgage and instructing a buy-to-let solicitor will be little different than when buying a home for themselves.
There will be some extra arrangements to be made. The mortgage agreement may be more complicated when the owner is not living on the premises with various guarantees or insurances having to be paid for before funds are released to conclude the sale.
Even if the buy-to-let will be lived in rent-free by a family member, it is advisable to have a tenancy agreement in place unless the ‘tenant’ is also a joint owner. Specialist property lawyers can draw up suitable documents to protect the interests of the owner(s), depending on the circumstances.
Landlords who are making a business of buying and renting property, especially in major cities such as London and Brighton, depend greatly on the efficiency of their buy-to-let solicitors to ensure they can complete a transaction quickly.
As with any home purchase for use by an owner-occupier, the usual searches and other legal procedures will need to be carried out by the legal practice before a contract is drawn up.
A prospective owner who can show that ‘his’ solicitor is fast and focused is most likely to be favoured if there is competition from other potential buyers for a particular property. Therefore, building up a relationship with a firm of residential conveyancing solicitors so that staff is ready to swing into action at news of a new purchase may help when speed is essential to finalise a deal. It could also mean an estate agent will recommend future properties as they become available because it is known the solicitors are reliable.
If properties are frequently bought and sold, a buy-to-let lawyer may be prepared to negotiate a reduction in fees because of the repeat business.
For an active landlord-investor, it does not matter where in the country their investment properties are sited, a modern house sale solicitor will use the latest technology to organise the legal processes while protecting the interests of his client. Searches can be made by email or post, other inquiries on the phone or internet and contracts sent by courier or special delivery in the mail.
Healys solicitors of London and Brighton for buy-to-let
Whether you want to dip a first toe in the waters of investing in property or are a seasoned landlord seeking an efficient buy-to-let lawyer for residential conveyancing, Healys offers a professional yet cost-efficient service.
With direct dial to your solicitor backed by a legal team available to answer queries promptly, our tried-and-tested systems operated by qualified staff will protect your interests wherever you are buying, or selling, in the UK.
Being part of a general law practice, Healys’ buy-to-let conveyancing clients have the benefit of access to legal advice on a range of issues such as landlord and tenant disputes, neighbour problems and other aspects of property law.
For more information and advice on costs of Healys’ conveyancing services, you can request a call-back via the website, or email partner Kiri Kkoshi – telephone 020 7822 4148.