Landlords should 'get finance right'

Landlords need to get their finances in order to make sure that their property investment are a success.

That is the view of Mortgages for Business, which has called for more professionalism within the sector.

Financial considerations for landlords include arranging let property insurance, sorting out mortgages and deciding whether or not to look for and purchase new homes.

David Whittaker, managing director at Mortgages for Business, said that buying an unsuitable home is the most common cause for landlords faring badly.

He commented: "Normally, a property [investment] goes wrong because you've bought the wrong property, the wrong location, the wrong condition or the wrong rent."

Mr Whitaker went on to say there is not need to rush into the market if opportunities are not available.

He added: "If the professional landlord has got his finance right, why should the lack of his ability to buy the next round of properties make any difference to what he's already got?"

Get a cheap landlords insurance quote today from Simple Landlords Insurance.