Conveyancing advice given to those buying to let

People who are looking to purchase a property to let have been given some useful conveyancing advice.

According to David Lawrenson, who works for property investment company LettingFocus.com, this year will be a difficult time for landlords to expand their portfolios and access mortgage finance. This suggests that they could be helped by conveyancing solicitors if they are struggling to purchase a property.

Mr Lawrenson said that this year lots of banks are planning to pay the government back after it bailed them out and therefore have less money to loan to landlords.

"I expect mortgage fees and the typical level of deposit required to stay high. And there is a pretty strong chance that the base rate will go up – making all mortgages more expensive," he said.

However, during the fourth quarter of 2010 research by Paragon revealed that tenant demand for privately rented homes reached a two-year peak.

Published by Hannah Carr