Buy to let landlords may need more information before purchasing

08 April 2010

Written by David Whittaker

Buy to let landlords may want to ensure they research their purchases as much as possible before securing a buy to let mortgage.

A new survey by unbiased.co.uk has found almost a quarter of individuals buying a home do not realise what the additional costs will amount to.

In reality, conveyancing fees could cost up to £1,000 alone - but one in ten people think the extra fees associated with buying a property will all together cost this much.

Buy to let landlords have been advised to keep in mind additional costs such as the survey, which the website suggested range from £50 to £1,000 depending on the level of detail required.

Solicitors will also charge for local, environment and water searches, based on what the council demands.

"Buying a home is a huge financial commitment and it is crucial for consumers to factor in all the additional costs involved in order to then calculate which price bracket they can afford," suggested Karen Barrett, chief executive of unbiased.co.uk.

Conveyancing is the process under which the ownership of a property is moved from the seller to the buyer.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.