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Buy to Let Property In Fitzrovia, Soho, Covent Garden, Bloomsbury, Marylebone

Many individuals today look toward residential property as a long-term investment and pension provider. With this uplift in demand there is a need for informed and expert advice. We will locate, negotiate and acquire residential property for the purpose of letting, although the service can equally be tailored towards those searching for a specific home in a given location.

Assuming you wish to appoint us we initially ask for the completion of a simple questionnaire in order to establish a basic working criteria. This provides us with enough information to commence the search for and draw up a short list of property currently available. We shall also provide estimates of gross and net returns that you can expect to achieve and provide practical advice on improvements that might affect or enhance these returns.

Once a decision to purchase a particular property has been made we will aim to negotiate the best possible terms on your behalf with the vendor or vendor's agents, subject to contract. Following agreement we will communicate the terms of the sale with your solicitor and during the course of the conveyance liaise with them, the lending institution (if any) and surveyor, negotiating additional matters as and when necessary and regularly communicating the progress of the purchase with you. Should you be unfamiliar with the area where your investment is being acquired we shall happily provide information on firms of solicitors, surveyors and indeed lending institutions.

Once contracts have been exchanged we will advise all the relevant utility organisations of the change in ownership and further liaise with you in respect of any furnishing requirements, decorative works or improvements that may be required. In order to achieve the best returns and the best Tenants a degree of expenditure is frequently called for. As specialists we are aware which locations let well and what decorative styles attract different Tenants.

Once the purchase is completed (ordinarily twenty-eight days following exchange of contracts) we will then receive the keys on your behalf with a view to commencing any appropriate works and placing the property in the market to be let.

If you are looking to invest in property for the future you need advisers you can rely upon for up-to-date market information. Finding suitable 'buy to let' property or development requires a special service that recognises you may have other calls on your time and you need the investment activity handled for you. Planning with your tax and investment advisers is something we understand and will support through our Investor Help line. If you are resident outside the UK you may need special guidance on tax and need management of your investments in the UK. We will be pleased to help you.

Buying to Redevelop

These are some of the factors you should consider to find out information about the area you're buying a redevelopment opportunity in:

• Look at social demographics. Due to an increased divorce rate and an ageing population, the number of single people wanting homes is rising rapidly.
  
• Consider the supply and demand factors. The UK planning system has failed to deliver the amount of homes that people seem to want. This is arguably the main, long-term factor behind price increases in housing in the UK. Low interest rates and low unemployment have exacerbated this trend.
  
• Understand the local economy. Get figures from your local authority planning department for the number of new houses built as a percentage of existing stock. Growth in business sectors is a good indicator of an up-and-coming area.
  
• Don't go too far afield. Stick to the areas you know and research them thoroughly.
  
• Target your development. Ask yourself, does your idea really fit the market? Does it fit into the locality you have chosen? More importantly, does it fit the basic ways in which people aspire to live in that locality?
  
• Look at what your customer wants. Young professionals and affluent older couples without children or dependants seem to like stylish, city centre apartments near the places they want to spend their money. Look at current fashions and consider the type of accommodation that will maintain its value because of its quality and location. Families need successful neighbourhoods, where there are good schools, good transport, safe environments and sufficient parking. They need more space, inside and out, and lower running costs, but they still want good design.

10 Common Property Defects

Inspections are needed to determine potential problems, and repairing any of these problems can be expensive.

• Poor drainage is a common defect found by surveyors. Correcting a drainage problem may require a new system of roof gutters and downspouts or re-grading the lot to improve water flow away from the house.
  
  
• Faulty wiring resulting from an insufficient or an out of date electrical system especially in older homes. To bring such a home up to standard or to make it safe, may require replacing the entire electrical system or a major part of it
  
  
• Leaky roof may be caused by a variety of defects and wear. Repairs may be possible to flashing and inexpensive, but if the entire roof needs to be replaced, you face a much larger cost.
  
  
• Unsafe heating system can be a serious health and safety hazard. To correct this defect, you may have to repair or replace an old boiler, which is a major expense.
  
  
• Poor overall maintenance can be seen in cracked or peeling paint, crumbling masonry, broken fixtures or shoddy wiring or plumbing. While most of these cosmetic defects can be easily repaired, you do need to pay particular attention to any makeshift electrical or plumbing fixtures, which can be potentially dangerous.
  
  
• Minor structural damage can result from water seepage into the foundation, floor joists, rafters, or window and door lintels. Although they won't cause the house to collapse, they do require your attention before becoming more serious.
  
  
• Plumbing problems typically include old or incompatible piping materials and faulty fixtures or waste lines.
  
  
• Water and air leaking in around windows and doors is usually not a serious problem and can be fixed inexpensively with proper grouting.
  
  
• Inadequate ventilation can cause too much moisture to remain in the house which can ruin interior walls and structural elements. To repair damage caused by poor ventilation, you may need to replace drywall and other elements. Replacing structural elements, however, may be much more expensive.
  
  
• Environmental hazards include lead-based paint (often found in homes built before 1978), asbestos, formaldehyde, contaminated drinking water, radon and leaking underground oil tanks.

West End Property