Guide to buy-to-let – part 2
Becoming a buy-to-let investor means taking on certain liabilities.
The second of this two-part guide tackles the legal responsibilities of landlords and obtaining sufficient insurance.
Answers supplied by Charles Haresnape, managing director of Aldermore Residential Mortgages, Kevin Purvey, head of national accounts at Coventry Building Society, and Phil Cliff, director of retail assets for Abbey for Intermediaries.
IN THIS GUIDE
Buy-to-let borrowers need to fully understand their legal responsibilities as a landlord.
Being a landlord is a business activity and there are therefore a wide range of tax issues for clients to consider.
It is important to make sure that your client(s) get the right cover in place, designed specifically to cover properties occupied by tenants.
The sale of insurance is regulated by the Financial Services Authority and brokers will therefore need the appropriate FSA permission to sell...
If your client has a normal residential mortgage but wants to move out of their house and rent to a tenant, they must notify their lender in order...