: Archive - December 2015

How will the new Right to Rent checks affect landlords

From October 1st in England, new rules meant landlords needed to have fitted and tested smoke alarms on every storey of a let property. This change had such an impact on the market that it was rumoured the country was running out of stock of alarms.

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There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.

Your home may be repossessed if you do not keep up repayments on your mortgage.

There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.

The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.