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April - Buy to let insurance

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  • April - Buy to let insurance

    Research carried out found that a lot of people who had bought or were thinking of buying an investment property under buy to let were not necessarily searching for landlords insurance

    The concept of “Buy to Let” was introduced by ARLA (The Association of Residential Letting Agents) in 1996. Today the concept is used not only in the UK but in many other parts of Europe. With the growth of Buy to Let in the UK it made sense for jml insurance web to offer these products on a separate section on the jml insurance web site

    Research carried out found that a lot of people who had bought or were thinking of buying an investment property under buy to let were not necessarily searching for landlords insurance.

    Philip Suter of jml Insurance said ” Although some mortgage lenders are not offering so many products, the buy to let sector is still very busy and investors purchasing properties. They must take out insurance and a dedicated introduction site landlords-buy-to-let-insurance has been set up to take landlords to the newly created buy-to-let section on the jml-insurance. co.uk site”

    Philip went onto say” There are now dedicated buy-to-let magazines and the weekend editions of the UK’s newspapers are full of articles. We have added some tips for would be investors.”

    “Some investors think that a town centre apartment without parking might be suitable and the friendly selling agent says that there will no problem in letting it. The owner then discovers that although the tenant might take a bus or walk to work, they still have a car for going off at weekends or to collect their food shopping. Other investors have looked at bungalows with very long gardens. They don’t realise in this day and age the majority of tenants have no time for gardening with their work and social lifestyles and the landlord will end up having to provide a gardening service that will cut into the rental profit said Philip.”

    jml Insurance has been introducing buy-to-let investors to mortgages from The Money Centre for a number of years. The introduction of the new buy to let insurance service should tie in well.
    Clerkenwell Property | London Property
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