PROMOTION Commercial buy-to-let properties Adam Bromley, partner at Forbes Solicitors looks at the benefits and what you need to know about this type of investment For instance, commercial leases can often be terminated if it esidential buy-to-let has been criticised in recent years due to the 3% stamp duty land tax (SDLT) surcharge, changes to mortgage underwriting standards and the reducing mortgage interest tax-relief contains a 'break clause: This gives flexibility to tenants to deal with an uncertain future. Moreover, tenants can also be lost in times of recession and combined with Brexit replacing them could take a while and COVID-19. Investors are now looking towards commercial buy-to-lets as evidenced by OOVID-19. A valuation of a property is difficult to obtain because of enquiries are raised. As soon as the lease is completed, the tenant takes possession of the property. For prospective investors, a commercial buy-to-let may seem daunting. But our experienced buy-to-let solicitors can offer advice on the drafting of all forms of leases. We will ensure that the as an alternative. This means the greater range of factors that can affect the value, such as the purchasing a property with the goal of renting it out to another business. The benefits of economic outlook and the location. a commercial buy to-let include longer leases as commercial leases last years or even decades which offers security for investors. Additionally, tenants are usually liable for any maintenance costs and landlords have very little to do with anything that goes wrong The first step to the process of a commercial buy-to-let is finding a tenant to occupy the property. The heads of terms, which set out lease reflects our client's needs, the main points of a transaction (subject to contract) are agreed between the landlord and tenant. while also keeping a balancing act. whereby the tenant's obligations are kept in mind. Once these are agreed, they are sent to the appointed solicitors, who then prepare a draft lease. Thereafter, the solicitor forwards For more information, please contact Adam Bromley, Partner, in the Commercial Property department at Adam.Bromleyeforbessolicitors.co.uk or phone on 0333 2071158 Furthermore, there has been a slow discontinuation of the mortgage tax relief and SDLT rates are capped at 5% over E250,000 for commercial property. Whereas residential SDLT rates can reach the lease to the tenant or their solicitors and a process of due diligence will be carried out whereby the clauses of the lease are negotiated in accordance with the parties' requirements and 12 over E1,500,000. As with any property purchase, some risks need to be considered. Together forbes we are forbessolicitors. Ofices in Accrington, Blackburn, Central Lancashire, Loeds, Manchester and Preston www.forbessolicitors.co.uk PROMOTION Commercial buy-to-let properties Adam Bromley, partner at Forbes Solicitors looks at the benefits and what you need to know about this type of investment For instance, commercial leases can often be terminated if it esidential buy-to-let has been criticised in recent years due to the 3% stamp duty land tax (SDLT) surcharge, changes to mortgage underwriting standards and the reducing mortgage interest tax-relief contains a 'break clause: This gives flexibility to tenants to deal with an uncertain future. Moreover, tenants can also be lost in times of recession and combined with Brexit replacing them could take a while and COVID-19. Investors are now looking towards commercial buy-to-lets as evidenced by OOVID-19. A valuation of a property is difficult to obtain because of enquiries are raised. As soon as the lease is completed, the tenant takes possession of the property. For prospective investors, a commercial buy-to-let may seem daunting. But our experienced buy-to-let solicitors can offer advice on the drafting of all forms of leases. We will ensure that the as an alternative. This means the greater range of factors that can affect the value, such as the purchasing a property with the goal of renting it out to another business. The benefits of economic outlook and the location. a commercial buy to-let include longer leases as commercial leases last years or even decades which offers security for investors. Additionally, tenants are usually liable for any maintenance costs and landlords have very little to do with anything that goes wrong The first step to the process of a commercial buy-to-let is finding a tenant to occupy the property. The heads of terms, which set out lease reflects our client's needs, the main points of a transaction (subject to contract) are agreed between the landlord and tenant. while also keeping a balancing act. whereby the tenant's obligations are kept in mind. Once these are agreed, they are sent to the appointed solicitors, who then prepare a draft lease. Thereafter, the solicitor forwards For more information, please contact Adam Bromley, Partner, in the Commercial Property department at Adam.Bromleyeforbessolicitors.co.uk or phone on 0333 2071158 Furthermore, there has been a slow discontinuation of the mortgage tax relief and SDLT rates are capped at 5% over E250,000 for commercial property. Whereas residential SDLT rates can reach the lease to the tenant or their solicitors and a process of due diligence will be carried out whereby the clauses of the lease are negotiated in accordance with the parties' requirements and 12 over E1,500,000. As with any property purchase, some risks need to be considered. Together forbes we are forbessolicitors. Ofices in Accrington, Blackburn, Central Lancashire, Loeds, Manchester and Preston www.forbessolicitors.co.uk