Grays Property Sourcing

06/09/2024

What is a Buy-to-Let Mortgage and How Does It Work?

Thinking about investing in rental property? A Buy-to-Let Mortgage could be your key to success! Here’s how it works:

What Is It? – A buy-to-let mortgage is specifically designed for properties you plan to rent out rather than live in yourself.

How It Works – Unlike standard mortgages, buy-to-let mortgages typically require a larger deposit (around 25%) and have slightly higher interest rates. Lenders assess your ability to repay based on the potential rental income rather than just your personal income.

Repayment Options – You can choose between interest-only (where you pay just the interest during the term and the loan amount stays the same from the beginning) or repayment mortgages (where you pay both interest and loan principal over time).

This is why as an investor you should be keeping an eye on the Bank of England interest rate decisions as this can impact mortgage rates on any mortgage terms expiring or any new mortgage applications you might be looking to take on.

04/09/2024

Why should you care about energy bills as a property investor?

Well this mainly depends on strategy and whether you pay bills or your tenants/guests but to put it simply, higher energy bills means less profit!

When it comes to any new properties you might take on you have to factor in higher energy costs into your numbers to ensure you know the true profits you will get on the new property. If you are paying £100 per month now in energy, that will be £110 roughly starting 1st October.

02/09/2024

Always check if a potential HMO is in an Article 4 area before purchasing. It could save you time and money!
If a HMO is in an article 4 area the property will require a license to be able to have multiple tenants.

30/08/2024

Here is something you might not be aware of if you are new to property as myths would make you think otherwise.
You may think you need a large sum of cash to start investing in property? You could not be further from the truth! Starting small can lead to big gains!

26/08/2024

Are you thinking about investing in property? Or how to do more with your money but not sure where to start? Contact me below! I am looking to work with a small group of investors on a 1:1 basis. Join now!

https://linktr.ee/grayspropertysourcing

23/08/2024

You can now find me on Linktree with all my links to socials and contact details 👀

See here:

Property Sourcer. Looking to source properties for investors in the Midlands...

21/08/2024

What is your goal in property? Comment below to let me know.

19/08/2024

If you are an investor working with a deal sourcer for building your property portfolio, it is crucial you check they are compliant.

You should check they are compliant with the following places:
- Anti-Money Laundering
- Property Redress Scheme / The Property Ombudsman
- Data Protection
- Insurance

Whilst on this subject you can view my compliance below:

Anti-Money Laundering: XPML00000164854
ICO: ZB686140
PRS: PRS045591

If you have any questions then please get in touch via DM or email at [email protected].

16/08/2024

Here is why you should have an interest in interest rates as an investor or sourcer:

- Affects the amount of interest you will pay on your mortgage
- Affects how much rent you may charge
- Impacts your profits
- Potential of unsatisfied tenants due to charging more rent.

If you have any questions then please get in touch via DM or email at [email protected].

14/08/2024

Why should you invest in Buy-To-Lets?

Some reasons are as follows:
- Typically longer term tenants.
- Less tenants to manage (1 per property).
- Long term capital appreciation.
- Cheaper starting costs (house prices for a 1-3 bed property are cheaper than the size of properties needed for a HMO).
- Monthly Cashflow.
- Cheaper management costs (if you use a property manager).

If you have any questions then please get in touch via DM or email at [email protected].

12/08/2024

I have a tip for investors!

Due diligence is really important when buying property even when you are working with a deal sourcer. You need to do your own due diligence to ensure the numbers stack and the deal works for you!

08/08/2024

Comment below what it is that you are struggling with in your property investment journey and lets see if we can work together to build your property portfolio.