Most landlords treat a property purchase as a mortgage problem with a solicitor attached. Find the deal, get the lending, instruct a conveyancer, complete. It works, until the day it doesn't — the lender's valuation comes in low, the auction completion window closes, or the accountant asks why the property wasn't bought through a company.
After watching several thousand landlords on August add properties to their portfolios, the pattern is clear: the ones who buy well have their suppliers chosen before they start looking, not after they've found something. These are the six decisions to make in advance.
1. Which lender, and on what terms
Buy-to-let lending has fragmented. Some lenders price sharply for limited-company borrowers, some for portfolio landlords, some for HMOs, and the criteria differences matter more than the headline rate. Get an agreement in principle from a lender that fits your structure before you view anything. We compared the main buy-to-let mortgage lenders on criteria, not just rate.
2. Personal name or company
Whether to buy through a special purpose vehicle is a tax and financing decision, and it's almost impossible to unwind cheaply afterwards. If you're going the company route, form it before you make an offer, because lenders will want it in place. There's a comparison of SPV formation services that also covers what the formation agent should set up for a property company specifically.
3. Whether you'll ever buy at auction
Auction purchases complete in 28 days, occasionally less. A conventional mortgage won't do that. If auctions are on your radar, you need a bridging lender lined up in advance and a clear plan to refinance out. We've reviewed the property auction houses landlords use most and the bridging lenders who can move at that speed.
4. A conveyancer who does buy-to-let
Residential conveyancers are used to owner-occupiers. Buy-to-let raises questions they may not ask: tenants in situ, licensing conditions, lease restrictions on subletting, whether the property can be let as an HMO. A conveyancer who does this regularly will flag problems that a generalist waves through. Our comparison of buy-to-let conveyancers is built around those questions.
5. How you'll find deals
Portal browsing is where everyone starts and where the least competitive deals are. Sourcing platforms, off-market data tools and auction alerts give you a wider funnel. There's a review of property sourcing software and data tools that separates the useful from the expensive.
6. Where the records will live
The least glamorous decision, and the one that pays off longest. Every document from the purchase, mortgage offer, survey, completion statement, EPC, gas certificate, will be needed again for tax, compliance and eventually the sale. Decide before completion where they go, and put them there on day one.
