I have found a FABULOUS investment for you in Box Apartments, in the centre of Stockport. The building is centrally located and is close to the Stockport Train Station so it is perfect for people looking to rent and perhaps commute into Manchester City Centre. The property is on the fourth floor of this small block of flats and has a modern open plan, kitchen and living area complete with a fridge and washing machine. There is a good sized double bedroom with modern wall paper and a bathroom with a three piece bathroom suite, including a shower over bath. The apartment also has one allocated parking space.
This property is on the market with O’Connor Bowden for £79,950 and would rent out for £575pcm. This would give you an incredible yield of 8.6%!! AMAZING! For any questions about this property, its location or the surrounding area, or if you are looking for an investment opportunity and would like some assistance please call me on 0161 474 8668.
When I talk to Landlords generally they are looking for a property that has 2 bedrooms and is no more than £130,000. These types of properties typically rent out for £650pcm which gives a good return of around 6%, however it has turned into a little bit of a scramble to find these properties and when you do, there are numerous investors looking at them and at this price point they will probably receive multiple offers or will need a lot of work to get them to a lettings standard which can be stressful. So, this week I bring you something a little different from the standard 2 up, 2 down, but that would still give you a good return, but with no work! Sounds appealing, huh?
I have found this lovely, modern and well presented three bedroom semi-detached house, with driveway and front and rear lawned gardens in Cheadle Heath for £235,000. The property is stunning inside, and it has been extended at the rear to open up the back of the property and allow for a large open plan kitchen/dining and living area with french windows opening onto a manicured lawn, and there is another, private reception room to! On the first floor are two large double bedrooms and a smaller single bedroom making this property perfect for a family. And… what do we know about families? They tend to move to an area and rent LONG TERM. Which means that you can reduce what you pay me on an annual basis for the tenant find! Hehe!
This property is on Kenilworth Road, close to Abney Hall Park and I believe that it would rent our for £950pcm and it needs no work doing to it at all in order to rent it. This would give you a yeild of 4.8% which is not to be sniffed at. The property is on the market with Mitchell Williams so give them a call to arrange a viewing and if you want me to accompany you give me a call on 0161 474 8668.
I love to keep you up to date with properties on the market that I think would be great buy-to-let investment opportunities and this property on Stream Terrace is no exception. The property is immaculately presented throughout and it is in very good condition. It is available to purchase for £145,000 and I believe that it would rent for £725pcm. This would give you a yield of 6% which is very healthy.
I also think its a great opportunity as the property needs no work at all. It boasts two good sized double bedrooms (not one double and one single), a modern bathroom, a lovely open plan kitchen living area with a modern kitchen and french doors opening onto a well presented lawned garden with new fencing and a matching shed.
If you would like to view this property with us, then we have two slots that have opened up tomorrow for our open house, so do not hesitate give us a call on 0161 474 8668 and arrange a viewing.
More great news as Stockport is ranked as the fastest growing economy in the North West, once again highlighting our town’s position as a leading business location.
The UK Powerhouse study is produced by Irwin Mitchell and the Centre for Economics and Business Research (Cebr). It provides an estimate of GVA growth and job creation within 45 of the UK’s largest cities 12 months ahead of the Government’s official figures. The latest report revealed that Stockport was the top location in the North West in terms of GVA growth during the last quarter of 2017. In contrast, Manchester and Greater Manchester recorded GVA growth rates of 1.2%, while Liverpool only registered growth of 0.7%.
The study also considered the future prospects for all of the major conurbations in the UK, with Stockport expected to once again register growth of 1.3% .
Over the next few weeks I am going to be taking you on tour around a property on Charlotte Street in Stockport in a ‘Homes Under the Hammer’ style video. I have worked with these investors to source this property which was on the market with us for £125,000 and now that the sale is complete we are looking at refurbishing the property to get it ready for lettings and getting the Landlords the best yield possible. I will be keeping you up-to-date with the progress we are making, so stay tuned!
For more information on this property, or if you are looking for an investment opportunity too then give me a call on 0161 474 8668 – Gemma Lowe, Lettings Manager, Stockport Exchange
Over the next few weeks I am going to be taking you on tour around a property on Charlotte Street in Stockport in a 'Homes Under the Hammer' style video. I have worked with these investors to source this property which was on the market with us for £125,000 and now that the sale is complete we are looking at refurbishing the property to get it ready for lettings and getting the Landlords the best yield possible. I will be keeping you up-to-date with the progress we are making, so stay tuned! For more information on this property, or if you are looking for an investment opportunity too then give me a call on 0161 474 8668 – Gemma Lowe, Lettings Manager, Stockport Exchange
It looks as though 2018 will be a mixed year for landlords. Some will start to feel the pinch of the legislation that’s recently come into force, such as the loss of mortgage interest relief, while a number of tenants may give notice, due to incentives to buy. At the same time, there are likely to be some good deals around for landlords looking to expand their portfolios. For the rest, who may not have the means to buy in the next 12 months, it’s a good opportunity to take stock of their portfolio and make small improvements where needed to help translate rental income into better profits.
The relationship between rental income and the amount you can borrow to finance your investment is one of the most important.
One of the first checks lenders make when you apply for a buy-to-let mortgage is whether the rental income is high enough to cover the repayments and associated costs of letting the property.
Although it can vary, lenders usually want rental income to be 125-130 per cent of the amount you repay on the mortgage each month. Knowing this, it makes sense for you to check these figures for yourself, before you apply, by following these steps:
I would like to bring to your attention this fantastic property that has just been brought to the market. It is a two double bedroom mid-terrace property, located within walking distance of Stockport Town Centre.
The property is ideal for a BUY-TO-LET investment. On at a Guide Price of £135,000, we estimate a monthly rental return of £695 which, based on the Guide Price, creates a yield of 6.18%.
We are hosting an OPEN HOUSE on Saturday 28th October. All attendees must book in, so call us now on 0161 474 8660 to secure your spot!
From the 30th September this year, landlords with four or more buy-to-let properties will have to satisfy different criteria to secure mortgage borrowing, as they will be considered ‘portfolio investors’ under new rules being introduced by the Prudential Regulation Authority.