Mortgage Advice for First Time Buyers, First Time Buyer Mortgages and First Mortgage Advice

Property Buying Guide

Buy to Let advice: Tenants

The legal contract that you have with a tenant is called an assured shorthold  tenancy  although landlords may draw up agreements with tenants that differ from this. For free advice on the most appropriate agreement contact our lawyers. Changes in the law mean that you no longer have to have an agreement that lasts a minimum of six months. However, you cannot remove a tenant during the first six months of his stay in your property unless he has broken the terms of the tenancy agreement, has failed to pay the rent for eight weeks or more; has not kept the property in a good state of repair; the property is due to be either knocked down or rebuilt; or you decide to sell.

However badly behaved your tenant, you are not allowed to change the locks to prevent access. Illegal eviction of tenants is a serious crime and punishable by a very severe fine or even imprisonment.

More buy to let advice:

Buy to let – for first time buyers and everyone l How much can you borrow? l Buy-to-let mortgages l The tax situation l The hidden costs  Finding a suitable property l Your responsibilities as a landlord l Letting agents l Furnished and unfurnished properties l Buy-to-let useful websites l Buying Property Abroad 

Useful Links: 

www.arla.co.uk
www.cml.org.uk/
www.landlords.org.uk/
www.direct.gov.uk/
www.rics.org.uk/


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Interest rates are low but could rise? Is this a good time to buy?

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Varialbe rate mortgages go up if bank interest rates do. Which is your preference?

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Interest only mortgages are cheaper but in the end you don't end up owning the property. Which is better?

Interest Only
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House prices are waivering. Do you think this is a good time to buy?

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Shared equity mortgages allow you to buy a new home with 5% deposit and an equity loan through FirstBuy. What do you think?

Too complicated
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Rent to buy allows you to peg a property price, save towards a deposit and pay reduced rent. What do you think?

Works best in a rising market
Too complicated
Good option