Buying to let

What type of property is it?

• Buy any type of property that is for sale.
• Build a new part of the property they live in now.
• Build a new property in their garden.
• Build a new property somewhere else.

What is good about buying to let?

• You have lots of choice about what to buy or build and where it is.
• It can be a good investment for the person who buys or builds the property.
• If the whole property is paid for they can pass it on to the relative who lives there.
• The family is in control.
• If you are going to share the property, the family can decide who else will live there.
• If the family owns the property, you will not have to move out of it unless you want to.

What is not so good about buying to let?

• Not everyone has enough money to do this.
• Not everyone can get a mortgage to pay for buying or building the property.
• If the person living in the property gets Housing Benefit, this might not be as much as they family has to pay each month. They might have to pay the rest themselves.
• The person who owns the property must act as a landlord. Being a landlord has lots of responsibilities. They must pay for things like repairs.
• If the council think the new property counts as part of the family home, they might not give Housing Benefit to someone who lives there.