How to make more income from your rental property

23.08.2018

Many landlords and property investors are wondering reluctantly if it's now the time to sell their rental property.

What with the increasing tax on rental income since April 2017, the end of the furnished property tax allowance, and recent low rent increases, a property sale is something that property owners are beginning to consider.

However, with current low interest rates on buy-to-let mortgages, this is also a great opportunity to think about whether re-mortgaging will make you considerable savings. 

One of our landlords recently re-mortgaged a buy-to-let property with a 2 year fixed rate, at 1.89% interest rate - saving £356.07 each month (previously £617.37, new mortgage £261.30). This adds up to over £8500 saved in the 2 years!

In addition, if you have any financial reserves to invest in enhancements to your rental property, this should sustain the capital value, and increase the rental value too - assisting with improving your re-mortgage calculations.

To ensure that you receive the best financial advice for your circumstances, it is advisable to use a recommended independent financial advisor. If you’d like to know more, please just ask.

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When letting out your property you need to do due diligence in finding the correct agent. You have to be confident in trusting the agency that will handle the transaction in a professional and timely manner and also be on top of the game. I have found Caroline to be excellent in finding, handling and managing all of my buy to let needs. Caroline has a great manner when dealing with people and it shows in the results. Mr A, Landlord, Naples, Florida
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