TAKING THE HEADACHE OUT OF BUY TO LET PROPERTY Advertising feature
Nicola Edgcombe, Director of Bartons Solicitors looks at some of the key considerations when buying an investment property
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advice needs.
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www.bartons.co.uk
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TOTNES Tel 01803 847777
investment property or holiday home, it’s worth considering exactly what you are looking to gain from the property. For instance, are you making the investment to predominantly provide a holiday residence for you and your family? Or to generate an income from holiday or longer term lettings, or from capital growth? How you decide to use your property will dictate what sort of mortgage you need. Buy-to-let mortgages require a larger deposit, different repayment terms and have stricter guidelines, so making sure that your long term finances add up is an important part of the equation. Specialist mortgages are required for holiday letting. Similarly, the way you intend to use your property will have
KINGSBRIDGE Tel 01548 855655
SALCOMBE Tel 01548 843005
OFFICES AT: PLYMOUTH AND BRISTOL Sol ici tors for the South Hams
South Hams, Dartmouth and the surrounding area remains one of the most popular locations for those looking to purchase a holiday home or second property. But buying, owning and letting an investment property is subject to a whole range of different financial, tax and legal requirements depending on the way you wish to use your property. For those looking to buy an
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ith around 7,000 second home owners in the
different tax implications – both during your ownership and in relation to Capital Gains Tax when you sell in the future. Letting your property out for short stays as a furnished holiday let could provide you with tax advantages, whilst owning more than one residential letting property could also prove beneficial. An in-depth knowledge of the integral features of the property could make all the difference when it comes to mitigating future tax liabilities. Finally, ensuring that you have the right legal agreements in place to protect both yourself as a land-lord and your tenants is crucial. Again, different rules and regulations apply depending on the type of letting you choose to undertake. However, responsibilities like fire and safety measures, regular inspection and maintenance, public liability and deposit schemes are all things which need to be taken into consideration.
As solicitors for the South Hams, Bartons’ property department provides specialist advice on all aspects of investment and buy-to let properties, including legal measures which can be put in place to limit tax liabilities. It works closely with other property professionals and property finders in the area.
If you would like a free consultation regarding tax options relating to your investment property, contact Nicola Edgcombe (
ne@bartons.co.uk) or Mark Lister (mal@bartons.
co.uk) on 01803 847777.
Outstanding Legal Service
At Bartons we pride ourselves on giving expert legal advice and understanding and caring for our clients’ individual needs.
Family & Matrimonial Wills & Probate Taxation & Trusts Residential & Commercial Property
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Tel: 01803 847777 email:
reception@bartons.co.uk Consulting rooms now available in Dartmouth for local appointments
TOTNES Tel 01803 847777
Solicitors for the South Hams
www.bartons.co.uk
KINGSBRIDGE Tel 01548 855655
SALCOMBE Tel 01548 843005
OFFICES AT: PLYMOUTH AND BRISTOL
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