Are you looking for buy-to-let property in London as an additional source of income? If yes, then, you need to understand certain basics of the property market before looking for property options.
A buy-to-let (BTL) property is a residential unit, which is purchased specifically to rent for profit. BTL also applies when an owner becomes a landlord, subject to statutory obligations and special finance / tax conditions of London.
The BTL can be a strong form of property investment leading to profit from both rental yields (if rent is superior to mortgage repayments) and capital growth. The London property market offers excellent returns to owners of BTL properties from rent as well as property value. With the rents on the rise and the demand for quality BTL increasing, this is the right time to acquire a BTL property in London.
However, if you choose to go the BTL way, you need to be aware of the risks involved like in any other business. Market factors, changes in mortgage conditions, unreliable tenants, and maintenance costs could make BTL properties at times unviable. But a lot depends on the lettings and management agent you choose to acquire and maintain the property.