Nationwide's specialist lender UCB Home Loans is publishing a free guide for budding landlords who want to take their first steps into the buy-to-let market.
UCB says buy to let is a rapidly increasing market and spring has become a traditional time to seek out new properties.
The guide, Buying to Let – Know The Facts, details what UCB says are the top 10 tips that landlords should consider when investing in property.
Its number one tip is to choose the right property. It says this should be in an area that is well suited to letting and advice should be taken from specialist letting agencies on property suitability.
UCB's second tip is to get the right type of financing by seeking appropriate advice on the best type of loan. The company warns that potential landlords should consider the hidden costs such as maintenance and insurance.
Other tips from its top 10 include thinking about finances by having a reserve fund, choosing a letting agent, having the right tenancy agreement, ensuring you have the right insurance, sorting out the tax position, producing an inventory and always getting a deposit.
Managing director Chris Reed says: “New landlords are advised to look at local conditions very carefully and to take advice from letting agents. Avoiding areas that are becoming saturated with buy-to-let landlords should also be an important consideration.”