You have always wanted to invest in property. However, the recent headlines on cuts on tax reliefs as well as new regulations seem to all point to the fact that property investing is no longer the same as it used to. This does not mean though that you should just take your money and invest it elsewhere. All you need to do is find alternative locations that you can invest on outside of the capital.
Most of the issues that are affecting mortgage lending for buy-to-let properties seem to surround around cover for rental. Lenders seem to want to get more rent than the mortgage repayment just so they can minimise the risks that they are exposed to. However, the tighter criteria and new regulation are causing lenders to demand that landlords first prove that they can secure 45 percent more rent than their repayment.
Considering that the mortgage repayments are going to be hefty for a property in London, it would be a little bit of impossibility for an investor to secure a 45% rent above that. While many investors are getting priced out of the capital, it is the best time for them to look into other places outside of it for opportunities. The UK, after all, is a vast place. There are plenty of other places where one can easily enjoy the successes brought about by buy-to-let.
Manchester definitely lands the top spot of the places that property investors are more likely to get some good returns. The north’s unofficial capital, it is the setting for regeneration projects that are worth billions of poundsat present. While property prices are rising in the city, the numbers are still relatively affordable when compared to the rest of the country.
If you are an investor looking for opportunities beyond the M25, then Liverpool should be on your radar. Rival to Manchester, it has been seeing outside investment massively flowing in with China at the helm. The city also has a booming leisure sector. New restaurants and bars seem to be opening on a weekly basis. The property market here is enjoying a considerable boost too.
The northeast also offers some opportunities for yields. While capital growth may not be as impressive, you will certainly enjoy great returns for your money. The place has been a consistent placer on the top of lists on the best yields. It is also a favourite among landlords that want to invest in the student property as it has a fairly large student population.
If you’re not keen on straying too far from the capital, this is the place to be. It may not have so great a reputation, but there is a staggering amount of money that is invested in this part of the country. It offers a vast array of property styles, major employers, and an airport. These alone are enough reasons why tenants are going to be attracted.
Learn more about the best places for property investment by reading about Experience Invest online.