Buy to let mortgages: As a landlord, what do I need to do?

Emery Johnson Astills solicitors in Leicester discuss buy to let mortgages and landlords responsibilities. 

Buy to let mortgages are for those who want to invest in houses and flats. If you do not already own your own home, you may struggle to get a buy to let mortgage. The mortgages are similar to ordinary mortgages in many ways, but you will often find that interest rates are higher. The minimum deposit is often higher and the fees are usually higher too. Most buy to let mortgages are interest only. What this means is that you only pay the interest on the lump sum borrowed and do not make any repayments. With interest only mortgages, when the term of the mortgage comes to an end,  the capital amount is owed to the Lender.

As a landlord of a buy to let property, you  have a number of responsibilities by virtue of the law and your mortgage  terms. Below, you will find some of the responsibilities that a landlord should expect to have. For more details about your responsibilities please contact Emery Johnson Astills.

Tenancy Deposit Protection

If the tenants are paying a deposit,  you must pay that deposit into a government approved deposit scheme.  You cannot just put it into  your own bank account.


Energy Performance Certificate

You  are required to provide tenants with an energy performance certificate. This is a certificate which tells the tenant how energy efficient the property is. It also provides the tenants with ways in which the energy efficiency of the property could be improved. The energy rating for the property must be at Band E or above.


Fire Safety

You must fit and test smoke alarms and carbon monoxide alarms.


How to Rent and Right to Rent

You must provide tenants with a “How to Rent” checklist and   undertake ID checks.


Health and Safety

You must make sure that all electrics, electrical appliances and gas appliances are safe. The landlord must also have a gas safety check each year by a Gas Safe registered engineer.


If you wish to purchase a property with a buy to let mortgage Emery Johnson Astills solicitors would be more than happy to assist you. We can guide you through purchasing the property or any other conveyancing matter. Please do not hesitate to contact our Leicester office on 0116 2554855 or our Loughborough office on 01509 610 312.