Buy-to-let properties in London are among the most lucrative investments available today.
With economic uncertainty causing stagnant bank rates and an erratic stock market, traditional saving options are no longer viable.
Whilst buy-to-let properties in London enable investors to accrue a store of wealth, finding the right opportunity can be tricky. Comparing mortgage rates to get the best deal can also be time-consuming.
Mortgage applications can take around 4-6 weeks to secure a mortgage.
What’s more, banks are reluctant to arrange mortgage loans to borrowers that fall outside the general lending criteria.
Consequently, investors looking to capitalise on the buy-to-let market in London can miss out on prime opportunities.
Fortunately, technological innovations are helping to eliminate the pitfalls of buy-to-let investments.
Find the Right Property
The most important decision you will make when investing in buy-to-let properties in London is the size and the location of the property you buy.
The risk with property investment is that landlords are still liable to pay off the loan even when you don’t have a rental income on the property.
Your financial planning should, therefore, be centred around what you can afford to pay when the property is vacant.
It’s also worth bearing in mind that high yield properties are typically at the lower end of the market. Because they are more accessible, there is more demand for them.
Consulting with experts in the London property market can provide you with valuable insights when searching for the right property.
Estate agents have insider knowledge in which areas of London are the most sought-after and likely to return the best yields.
Traditional lending channels are slow, and often fraught with obstacles.
The quickest way to secure funds is to apply through a digital lending platform such as Pitch 4 Finance.
Pitch 4 Finance uses a powerful algorithm that matches your lending criteria with firms that can meet your needs.
This enables you to identify potential lenders in a fraction of the time and find the best deal for you.
““Our unique digital solution means that both sides save time and money, and we are excited about the role Pitch 4 Finance can play in providing much needed finance to SMEs, which are the engine of the UK economy,” said Pitch 4 Finance founder, Miranda Khadr.
You can also exchange messages and documents directly from the platform.
This gives you access to the mortgage lender where you can engage in human interaction and expedite the process to secure a loan in good time.
Property and Portfolio Management
Advertising your buy-to-let property on digital platforms will attract more leads and reduce the amount of time for the vetting process.
You will also be able to place a listing that projects your property in the best light.
To protect your assets and maximise your income, it is essential that you maintain the property and are up-to-date with the latest regulations for landlords.
New laws can have a significant impact on your profits.
If you are aware of a change in the law well in advance, you have time to plan and implement changes without putting a dent in your income.
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