Frequently Asked Questions

Everything you need to know about Buy To Let!

Why should I use a letting agent at all?

Because it will make your life easier! For instance, each Leaders branch is a mine of information and can tell you what rents easily and what doesn’t. Leaders is able to assist in finding reliable tenants given its wide coverage and links with key local employers. When the property is let, the majority of Buy to Let landlords instruct Leaders to be responsible for the property, collect the rent on their behalf, oversee property inspections and generally protect your investment. Always, always make sure your letting agent is a member of ARLA. This is your assurance of best business practise to protect your investment.

Why is it worth visiting Leaders before I purchase a Buy To Let property?

One of the most common mistakes when Buying to Let is to lose sight of the fact that you are making an investment rather than a choice of where you would like to live! That recently completed luxury property might seem a great idea, but in reality its rental value simply might not add up. Depending on the area, several smaller properties may well let faster and achieve higher yields than one larger house. As ever, location is paramount. Leaders will save you hours of time and more importantly, could also save you from making a very expensive mistake!

Can Leaders advise on investment and mortgages?

No! Leaders adheres strictly to the regulations set out in the Financial Services Act that preclude us from advising you on financial matters. However, when it comes to advice on what to rent, where and how to maintain your Buy to Let investment, you couldn’t be in better hands than Leaders.

How can I protect my investment?

If successful investment is all about risk management, appointing a recognised and established specialist such as Leaders is a prudent first step. Leaders can also provide further safeguards such as a specially negotiated and exclusive Rent Protection and Legal Fees Insurance, which protects you against non-payment of rent. It is probably the lowest priced and yet comprehensive scheme on the market. Leaders is also an appointed representative of Hepburns Insurance Services and Lumley Letsure Limited. We can offer specially negotiated insurances specifically for let property. This is crucial as many standard household insurances do not cover all letting eventualities and in extreme cases unfortunate Buy to Let landlords may find themselves uninsured in the event of a claim.

Is there any legislation I should be aware of?

Legislation is becoming ever more complex as letting becomes an increasingly popular investment option and the number of Assured Shorthold Tenancies continues to rise. Leaders makes every effort to keep its landlords fully up to date with news of legislation that is being debated now and which has recently been passed. Periodically Leaders issues ‘The Knowledge’, an easy-to-read overview of the latest legislation which has become immensely popular. Competitors are known to pop into their local Leaders branch to pick up a copy!

What are property 'hot spots'?

Whereas you may read of an overall trend in property values and rental yields in the press, ‘Hot Spots’ crop up in areas of higher than average demand. One of the advantages of seeking Leaders’ advice about Buy to Let properties is that with branches across three counties we have a unique perspective on emerging trends. Many landlords building larger property portfolios have found it shrewd to spread their investment across Leaders’ territories in Sussex, Hampshire and Surrey.

What about tax?

Leaders specialises in letting only, however we can recommend third party tax accountants we have dealt with for many years to advise on the most efficient route to pursue from tax deductible operating costs through to the viability of setting up a Limited Company as an umbrella to hold your properties.

Will Buy To Let get a boost from the changes in pension plans in April 2006?

Changes in legislation from April 2006 – A Day - will give investors far more flexibility in planning for their future. Self Invested Pension Plans or SIPPS as they are known, will allow the purchase of property. Legislation is still being finalised, but property will be free from tax on rental income and capital gains. Investors will also be entitled to tax relief on contributions paid into the pension scheme. Your accountant or IFA will have further information.

What is an HMO?

An HMO is a "House in Multiple Occupation" meaning a building that falls within one or more narrow definitions. Call your nearest Leaders branch for more information.

Becoming A Leaders Buy To Let Investment Landlord Is Easy!

Buy To Let Enquiry

Complete our Buy To Let enquiry form and leave a few details. A senior Leaders representative will be in touch to discuss your interest further. Leaders respect your privacy and all details will be treated in confidence.

Contact Your Nearest Branch

Choose the region you are interested in and contact a Leaders branch online. Any of our Regional Directors would be delighted to offer advice comparing regions and will give you the appropriate branch contacts.