When purchasing a buy to let investment property you need to consider the accommodation, condition and location of the property, together with the potential rental value. Please contact our Lettings Team who will be able to give you a precise rental valuation using their vast knowledge of the local area together with comparable evidence drawn from similar properties that we and other agents have rented recently. Based on this valuation you will be able to calculate the rental yield of the potential investment property.
How do I calculate the percentage gross rental yield on your investment?
(total rental income per annum ÷ the value of the property) x 100 = % gross yield
Please note that regardless of whether you purchase a property through Cockburn we will still be able to advise you on the rental value and the process.
When purchasing an additional residential property such as a buy to let you will be charged a 3% surcharge on each of the stamp duty threshold bands. Please call our offices for more information on this.
When buying a property to rent out you should also consider the potential costs to you when you become a landlord. Please see below.
If you are buying a second home to live in with the intention of letting the current one out, a residential mortgage will be required for your new home, and your previous home will need to be changed to a buy-to-let mortgage.
Please contact our offices if you would like any further information on buy to let or let to buy mortgages.