Why now is a good time to invest in Buy to let, well rates are historically low and look to remain low for the medium term at least. Low interest rates and a flat line property market at least in Wolverhampton and the rest of the West Midlands, at the moment creates an opportunity. Property investment is still a safe investment and will continue to be after lock down has ended even if property values do dip in the short term. There is a previous article on this on the blog.
The property market has restarted and valuation’s and restricted viewings can re-commence subject to social distancing of course.
The effect of the property market re-opening, if you like in Wolverhampton means that now is a good time to purchase a investment property while values are at a low point and fairly flat. Why is this good news, well as long as you view property as a long-term investment then over the long term, the capital growth will add a lot of value to the property as the market returns to normal or the new normal.
Property types, popular for investment in Wolverhampton are the straight forward buy to let properties, with one family or person on a single tenancy agreement, living in a house or apartment. For the more experienced Landlord there is the shared house option also known as houses in multiple occupation (HMO) typically three to six people who are not related sharing the facility’s but each tenant having their own bedroom. Greater cashflow and higher yields plus more management work for the letting agent or Landlord.
From the mortgage brokers perspective, I can provide independent mortgage advice on a HMO mortgage or a Buy to let mortgage whether it’s a re-mortgage of an existing property. Bridging finance can also be used to obtain or refurbish and uplift a property which might as its current status be unmortgageable. If you are on a mortgage holiday at the moment you might want to read this previous article. applefinance.co.uk/mortgage-holidays
If you like a free chat about your circumstances and a professional recommendation on the best mortgage for you call
Paul on 01902 213201