After hearing lots of great stories regarding Buy to let investments over the last decade, we get asked a great deal by potential property investors whether you can still get in to buy to let property investment in Sheffield.
thisismoney have recently answered this questions in a blog article, “Many long-term existing buy-to-let investors are sitting comfortably on low mortgage rates, having seen standard variable rates fall as base rate was slashed down to 0.5%. This is especially true for many as a lot of buy-to-let deals do not have typical SVRs but a revert rate that tracks the bank rate.”
“However, new buy-to-let mortgage deals largely remain more expensive than residential deals and require a big deposit. Despite a recent surge in demand, many industry experts acknowledge that now is a tough time to get into buy-to-let.”
“But with property prices having fallen to more affordable levels, those who stick to the tried and tested method of investing for rental returns rather than capital growth are tempted. You will need a big deposit though and should not expect instant riches.”
“If property investors are willing to accept that the value of their property may slide in the short term, and can ensure their property meets the criteria of at least 75% to 85% loan-to-value and returning 125% of monthly mortgage payments then it can be a good long-term investment.”
Yes, very financial based, but useful advice based on the current market conditions. Our message at Belvoir! Sheffield is not to worry or make any assumptions and if you are looking at ways to increase your existing portfolio or are a first time property investor looking at the Sheffield buy to let market we would recommend that you speak to us as soon as possible, before you buy a BTL investment property in Sheffield.
We can help and advise you and ensure that you do not make an expensive mistake and you purchase an investment property that works for you and your objectives, its an offer with absolutely no obligation.
Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.
For more information, please visit Belvoir! Sheffield or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.co.uk
For the most up to date information relevant to landlords, vendors, and buyers of owner occupied and Buy to let property in Sheffield ensure you follow Belvoir! Sheffield on either Facebook, Twitter or visit our website for property lettings or property sales.
RE: http://www.thisismoney.co.uk/money/mortgageshome/article-1596759/Ten-tips-buy-let.html#ixzz3KDY341Kx
