June 2016 - First 4 Commercial
30Jun2016

Top Tips for Sprucing Up a Buy To Let property

If you’ve already invested in a buy to let property and are now looking at ways to make it a little more appealing to prospective tenants, this is the article for you! Here, the First4commercial team discuss a few proven techniques that will do exactly that, and for less than you might think…

Exterior

Never underestimate the importance of curb appeal for your buy to let property. Invest some time in clearing away any clutter, and ensure whatever outside space the property has is as appealing as possible.

Savings

Your prospective tenants will be attracted to properties that will be inexpensive to maintain, so look into energy saving products that include water management systems and energy monitors.

Focal Points

Fireplaces are great features that will attract future tenants, and window seats are also very appealing. Ensure that you draw attention to these focal points by using décor that doesn’t distract. Your buy to let mortgage was something you thought about seriously, so why risk an empty house or apartment?

A Clean Space is an Inviting Space

If your property has carpets or wooden floors, hire a professional to clean or buff them, before you invite people to come and view. If the rooms are instantly aesthetically pleasing, it is more likely that your buy to let property will make a favourable impression. Carpet stains are a no-no, and dirty curtains or torn wallpaper simply will not do!

By following these straightforward tips, it is more likely that your property will be easy to let, and will soon be the sound investment you hoped it would be when you bought it!

25Jun2016

The Basics of Buying Property at Auction

It is becoming more common these days for potential property moguls to attend the myriad of auctions that take place all over the country. Here are a few tips that might help you find a house, flat or commercial premises for far less than you might imagine.

Tip 1: Stay Cool

Remember not to lose your head just because that property is something that you always wanted. If you are looking to buy somewhere to sell on, think about the location and make sure you have the funds available to spend on fixing it up if necessary.

Tip 2: Knowledge is Power

Research is key to making the best informed decisions before committing yourself. The guide price isn’t always the amount that you need to bear in mind, so ask local estate agents what they think of the price and you might get a pleasant surprise.

Tip 3: Fast Access to Funds

Bridging loans are a great option when you need some cash fast. They can be agreed in a very short time, and so long as you can pay them back in time, they are usually very reasonable indeed. Talk to us at first4commercial for more information.

Tip 4: Really, Stay Cool!

Stay calm on the day of the auction; although they can be an exciting place for newbies, if you become too anxious, you might overstep the mark as far as bidding is concerned.

By following these four simple tips, you should be ready for your first property auction. Happy bidding!

20Jun2016

Finding out your Credit History

If you are thinking of making a large purchase, whether it be a mortgage for a house or simply a new or used car, it always pays to have a clear understanding of your credit history. Lenders will always want to know how much of a risk you pose to them, before they decide to make an offer. Nowadays, it is very easy to find out your credit score online, and as long as you have a few minutes, you can soon have that score in your hands.

Experian and Equifax are the two most prominent credit history organisations, but you can now choose from dozens of others who will offer this information, often free of charge.

If you have defaulted or even paid late on recent loans taken out in the last 6 years, this will show up on your credit history report. Although it may not be a showstopper, it can affect the amount that a lender is willing to offer you.

Thankfully you will also have the option of applying for a non-status commercial loan with first4commercial if your past credit history isn’t quite 100%.

Before you decide to apply for a loan of any type, your first move should be to check out your (and your partner’s) credit history. As long as there is nothing too terrible there, you should be able to crack on with the application; just bear in mind that if you do present a potential risk, your lender has the right to say no.

16Jun2016

3 lesser-known tips when looking for a buy to let property

Although there have been some harsh comments aimed at property investing and buy to let mortgages recently, it remains a lucrative investment opportunity. This short article highlights some advice that often goes unnoticed until it is too late. So whether you are thinking of buying a second property, or you have already got your feet wet, here are some tips that could make all the difference financially.

Tip 1 – Hands on or not?

If you are prepared to get involved in the buy to let sector, you can save a lot of money in the long run if you’re prepared to take more responsibility. Agencies will be happy to look after your tenants, but they will want a slice of the profits in return. Just ensure that you know exactly what is required before you appoint an agent, because charges can vary greatly.

Tip 2 – Prepare for issues

There are a number of pitfalls that are waiting for the unwary when you enter the buy to let market, so get ready in advance. House prices can fall and mortgage rates will eventually rise, so factor these two possibilities into the whole process, before you commit yourself.

Tip 3 – Do not limit your options to a particular post code

If you are prepared to look a little further afield, you may find some very attractive alternatives. As long as there are commuting possibilities and good local amenities, you will always be able to find people willing to rent your property.

These three tips may not be the most obvious, but they will certainly add some value to your investment. Talk to us at first4commercial for more advice.

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