The best place to start
Looking to buy a property to let? Knowing how much you can borrow will help you understand what you can afford.
How much could you borrow?
Work it out with two figures, one minute and zero credit checks...
Please note this is only an estimate and can vary depending on the lender and your personal circumstances.
Affordability
What can you afford each month?
See the kind of mortgage you can afford, and what the monthly repayments will be.
Your first three steps
If you’ve inherited a property and want it to earn its keep, or you’re thinking about picking up a buy-to-let, becoming a landlord, get started with these first three steps...
Work out the legalities Do you know if you can legally let your place out?
Dig into details How much will rent be and how do you want to manage it?
Talk to an expert Our specialist advisers can help guide you to become a landlord.
Something to bear in mind...
An adviser could make the difference.
Becoming a landlord doesn’t have to be complicated. One of our advisers can help explain what’s going on, chases paperwork and answers your questions in plain English, no matter how daft they sound in your head (we’ve been around for ages, we’ve heard everything!).
What we’ll talk about during your appointment.
What you need to consider and look for in a property.
What the legal side of things look like.
How to find tenants and what to charge them.
All the answers in one place
From EPC and Right and Rent to all the types of mortgages to pick from, there are lots to think about as a new landlord. Our free buy-to-let guide is packed with everything you need to get started and what to expect along the way.
Your legal responsibility as a landlord
Making sure your property is safe for your tenants is job one for you as a landlord. Here are some of the things to think about when it comes to safety:
Fitting a smoke alarm and carbon monoxide detector on each floor
Making sure all electrical equipment is safe to use
Keeping an up-to-date gas safety record, carried out by a qualified gas engineer
Keeping an up-to-date energy performance certificate (EPC)
One other thing, in England, all private landlords need to carry out a Right to Rent check for new tenancy agreements, just to work out whether the people who want to move in have the right to live in the UK.
You can find out more about your responsibilities as a landlord over at gov.uk, which also outlines the different rules for landlords in Scotland and Northern Ireland.
Something to bear in mind...
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Four big questions
We speak to people who want to become landlords every day. These are the four questions we're asked all the time.
Yes, you can let to a family member but you need to follow the same rules you would with a regular tenant, with the addition of telling the lender your renter is a family member. This includes charging a certain level of rent, making sure the property is legally let, and having a rental agreement. In addition to this, you must also speak to your lender beforehand.
When you pick tenants, you’ll need to do a referencing check on important information like their employment status. It’s also a good idea to make a list of what you want to help narrow down your options, for example whether you're happy if they smoke or have pets. You can also meet them in person to get a better feel before making the final call.
This depends on how much you're putting in and how much you want to get out. As a good start, check property sites like Rightmove and Zoopla, as well as the HomeLet Rental Index. You should also look into rental rates in your area to see if your price is competitive.
There are pros and cons to investing in a student rental property. You could earn more from your rent as you can potentially get more people into the property but there are more legal issues to deal with too.