Mortgages And Buy To Let Or Land For Investment

[Scarlet Pimpernell]

I know it all depends on the house, your salary, etc and the obvious ones around rates which I understand.

What I am peeved about is the sheer volume of offers.

The latest one is Flexible mortgages, like One Account. Anyone got one of these?

I don't have much liquid cash now (spent it on the car...), but we want to buy a house to let out, preferably not in Leicester or Nottingham as the prices are too steep, but somewhere further north. Also, I know you can normally always get a healthy return on bricks and mortar...

Any suggestions of the "hip place" to buy an investment property in the UK? Around the £110k mark? Is it worth while buying land instead in a brown belt, what are the pitfalls?

PS I know the usual stuff (i.e. buy close to new Business Parks, colleges/uni's etc) but what I'm after is a good town where the prices/prospects are good long to medium term...

[tdiplc]

I believe you have to a licenced by the FSA to be able to legally offer financial advice, but it's fair (and legal) to say that a mixed portfolio is wise precaution to spread your risk.

www.myperfectplot.com is a good resource for land in the UK and overseas, and overseas properties.

[peter026]

Get in touch with Location Location Location on Channel 4, not only will they find some places for you to look at, but you will also become a TV star for a short while :D

[Scarlet Pimpernell]

Get in touch with Location Location Location on Channel 4, not only will they find some places for you to look at, but you will also become a TV star for a short while :D

Heaven forbid, my Ugly mug would get me into Jail only

[Rsarin]

I dont know of many hot spots in the uk apart from the south of england.Ive recently purchased a few new builds for a long term pay off.Ive had to put 20% down and still have to cover the two repayments with extra cash ontop of what the tenants give.Portman is giving 100%mortgages at the mo,but not for by to let.All banks are lending stupidly these days so be careful.Normally banks never lend unless they think that you are on to a good thing,ie your rental income covers the repayment,but ive heard recently of some disaster stories.Stoke on trent is being developed hugely and therefore a proff work force is arriving daily to the city and looking for high spec accomodation.Student houses are ok,but the clients you are dealing with are not always easy to extract cash from at rent time.If you can afford an agent to let it out and fully manage it for you then you will have less hassle.good luck.If you look at www.houseprices.co.uk you can see what the prospective property that you are going for was sold for or purchased for this can be useful when trying to engage a decent price at buying time.