Mortgage Investment In UK Property
The Best Locations For Mortgage Investment In UK Property
If you're going to make a success of buy to let, then you will need to know how to choose the best locations for mortgage investment in UK property. There are several methods you can use to identify the best locations. To start with, many organisations publish statistics relating to mortgage investment in UK property and this can provide some initial guidance on the best places for buy to let investment.
For example, Birmingham Midshires, one of the earliest and biggest lenders in buy to let, recently collated figures on the best locations for mortgage investment in UK rental property by postcode. These buy to let hotspots were assessed by rental yield and rate of return. In reverse order, the hotspots for mortgage investment in UK property were the Midlands (11.39 per cent annual return and 4.9 per cent rental yield), followed by Yorkshire (11.46 per cent annual return and 5 per cent rental yield).
The North East had a similar rental yield and an annual return of 11.46 per cent, while Greater London had a 5.1 per cent rental yield and an annual return of 11.58 per cent. The best spot for mortgage investment in UK property, according to Birmingham Midshires figures, is the North West, which has experienced a 5.9 per cent rental yield and a whopping 12.7 per cent annual return.
BTL Property Secrets
So, what's the secret to choosing the best sites for mortgage investment in UK rental property? Well, one of the keys is to choose the location wisely. The location of a rental property is just as important as the location of your own home - and you will be looking for some of the same amenities. Since your rental property is your tenants' temporary home, they will be looking to see how close it is to schools and work, what the public transport is like, whether there is a good supermarket or corner shop nearby and what the restaurants and other entertainment are like. Get a property with all of these on tap and you will have taken an important step in selecting a good site for mortgage investment in UK rental property.
Once you have selected the location for your mortgage investment in UK rented property, it is time to choose the property itself, and this too is an important choice. Every area differs in the kind of property that tenants are looking for. In one area, you might be better off investing in student flats, while in another upmarket town houses might be a better bet. Some tenants favour terraced houses, while others prefer a standard semi.
It is important to take advice from a local expert and choose the right property to get the best from your mortgage investment in UK rental property. Get this right and you will have a let-able property in a prime location - which should please both you and your mortgage lender. All you have to do then is manage the property and watch your mortgage investment in UK rental property pay dividends for the next few years.
