Become a CityRise Premium Buyer to get:

  • Priority access to exclusive off market investments
  • Out of hours investor support chat
  • Below market value pricing
  • Allocated solicitor for hands free conveyancing

    What are the benefits of buying Off-Plan?

    Off-plan properties are wise investments since they can generally be purchased at below-market rates, come with the possibility of high capital growth and give the investor more flexibility and freedom to hand-pick their preferred units. Furthermore, because you are buying directly from the developer there are no previous owners and you will therefore never be placed in a housing chain.

    How can I be sure my money is safe?

    All property purchases in the UK must go through a UK solicitor. Your solicitor will not ask you to pay a deposit until they have thoroughly checked your sales agreement and are happy with the contents.

    Do you recommend any solicitors to use for my purchase?

    Yes, we have recommended solicitors for each development, who are familiar with the project and well positioned to advice you. Solicitors are an instrumental part of the purchasing process and key to ensuring that exchange deadlines are met on both sides. Our recommended solicitors are completely independent from us and act solely in your interest, however you are free to appoint another UK property solicitor if you would prefer.

    What are the purchase costs for a buy-to-let property?

    Purchase costs can vary between different developments. The most common costs include:

    • Legal Fees
    • Registration fees and Searches
    • Stamp Duty
    • Mortgage broker fee (if using a mortgage)

    If you are not familiar with the different purchase costs incurred. Get in touch and a sales advisor will walk you through them.

    Which taxes are associated with investing in a buy-to-let property?

    Buy-to-let property investment involves paying a variety of taxes.
    Income from your property is taxed in the same way as money you earn at work and has the potential to push you into your next tax bracket.

    Capital gains tax can also apply to any property you own that is not your home. It is calculated based on how much your capital has grown when you sell the property.

    The above should not be construed as definitive tax advice and everyone’s circumstances are different. You should verify any tax information from HMRC or a qualified tax adviser. Taxes and allowances can change regularly, so be sure to keep up to date with the latest information at the time you plan to invest.

    What is the difference between leasehold and freehold?

    Leasehold is land held under a lease for a specified number of years on which a ground rent is paid.
    Freehold is the full ownership of both the property and the land on which it stands.

    What is a Rental Yield and how do I calculate this?

    Rental yields are percentage figures which indicate the amount of returns you will make on your buy to let investment. Identifying your rental yield is a key part of any property investment strategy.

    How to calculate your Gross Yield:
    Annual rental income / purchase price * 100

    How to calculate your net yield:
    Annual rent – Annual Ground Rent & Service Charge / purchase price * 100

    What are the best UK Property Hotspots?

    Some of the top property hotspots for the UK are cities located in the North, specifically Leeds, Manchester & Liverpool. These cities come with the best rental yields, high levels of demand, and impressive property price growth.

    Who manages the project on completion?

    Once the development is complete, the development is either managed by a chosen management company or the landlord directly. Management activities include marketing the property, finding tenants, and general maintenance responsibilities.

    Do you offer Buy-To-Let Mortgages?

    At CityRise we do not offer buy to let mortgages directly. However, with our experience in the industry we are in close contact with all the top mortgage brokers across the country and are more than happy to put you in touch. The independent brokers that we recommend, have access to all market products and will be able to help you get the cheapest rate possible.

    Can you guarantee my rental income?

    Some developers do offer guaranteed rent/assured rent schemes, whereby they offer you a fixed return for a certain time period upon completion. Please bear in mind that these contracts are not legally binding and can harm your chances of getting a mortgage on the property as most lenders are wary of such schemes. At CityRise, we prefer the standard Assured Shorthold Tenancy Agreement which is a legally binding contract; we feel our landlords are safer operating in this way.

    Will I pay tax on my rental income?

    You are required to declare any income you receive from your property and will pay tax upon it. However, it is possible to offset most, if not all, of your expenses against it and reduce your tax bill. Special rules apply if you are living overseas for six months or more in any one tax year.
    In our experience tax liability is not usually a deciding factor in Buying to Let, however, if you wish we can recommend tax accountants to you. Speak to one of our agents who will be able to advise you further on this.

    Is there any legislation that I should be aware of when becoming a landlord?

    Yes, there are many legal obligations and restrictions that come with being a landlord and these are constantly changing. It is therefore paramount that you choose a reputable Letting Agent to act for you. At CityRise, we ensure that we are continually up to date on all the latest legislative changes and will help you comply with these.