Questions
Common questions
Can I buy a tenanted property with a mortgage?
Yes. Most buy-to-let lenders will lend on a property with a tenant in place, usually on an assured shorthold tenancy. Tell your mortgage broker it is tenanted at the start so they pick a lender that is happy with that. If you don't have a broker, I can introduce you to one who works with property investors.
What happens to the tenant when I buy?
The tenancy carries on. You become the landlord on completion, the deposit is transferred to you or your agent and re-protected, and the rent is paid to you from then on.
Can I view the property?
Yes. Viewings are arranged with the tenant, with proper notice, once you have read the pack and want to go further. A viewing doesn't hold the property, though: it stays on the market until the reservation fee is paid, so if you want it, move quickly.
What does it cost to buy through you?
Registering and receiving deal packs is free. If you buy, there is a buyer's fee of £3,000 or 2% of the price, whichever is higher. The fees page has the details.
Other property types: Tenanted HMOs · Tenanted blocks of flats · Tenanted semi-commercial · All live deals
Guide: What happens to the tenant when you buy a tenanted property?