02 Sep 2011
Buy to Let – An Investment Opportunity
The UK’s Buy to Let market is currently gaining momentum, with statistics suggesting this sector of the property industry is returning to a competitive state. Buy to Let mortgages are at their highest rate since 2008 and the number of lenders has increased significantly from last year, rising to 64 as opposed to 48 last May.
This research, carried out by Moneyfacts, indicates more people are recognising the advantages of buying a property with the view to let: not only does it give you a regular income from rental payments, but it also offers the opportunity to establish a valuable asset for the future. It presents, therefore, a period of time in which you continue to earn money while waiting for the market to grow. Even if property prices fall, money can still be made as part of a long-term investment.
Furthermore, Buy to Let is a form of investment which can effectively function as a pension scheme. Indeed, in this age when pensions and savings are not delivering what people had hoped, many are instead turning to Buy to Let in order to bolster their retirement funds. Should property prices then increase, investors have the option to sell and reap the rewards of enhanced capital.
Buy to Let in Bath – An Ideal Location
While Buy to Let is undoubtedly an attractive investment opportunity, those looking to enter the industry still need to do their research. For such a venture to succeed, factors such as legal responsibilities, rental yields and void periods all need to be given careful consideration. The single-most important element, however, is location, location, location!
When searching for a property, a landlord should look for an area in the country displaying a strong performance, with fantastic property, good rental prices and widespread demand. Although this may seem an unattainable ideal, professional property broker Christine Penny would like to point out that her home city of Bath offers all these things and more.
From an expert point of view, Bath is the perfect location to purchase a Buy to Let property. People looking to rent are drawn to the city, which boasts good transport links, excellent educational facilities, and a relaxed yet cosmopolitan atmosphere. Most notably, more and more Londoners are relocating to Bath, opting to rent first in order to familiarise themselves with the area.
In turn this is creating a demand for large, high-end rental property in the city. Figures issued by the Royal Institute of Chartered Surveyors show that in January 2011, tenant demand was significantly outstripping supply. This has had a knock-on effect in Bath, where rental prices have increased rapidly, with a 40% rise in rental income over the past two years. Put simply, yields taken by landlords are soaring.
And then there’s the property. Whether a tenant is looking for a Georgian townhouse or a rural idyll, Bath and the surrounding locale has something to offer everyone. The wealth of beautiful, high-end property appeals to families and couples alike, particularly those looking to strike a balance between city and country living.
Most importantly, Bath enjoys consistently strong property prices. While the area is not immune from the effects of the country’s economy, evidence thus far has shown prices in the city have remained strong. Not only does this mean a landlord can be confident with the stability of their Buy to Let investment, but it is likely the property will in fact turn out to be a very valuable asset.
Looking to Buy to Let in Bath?
If you are looking to Buy to Let in Bath, Christine Penny can help you. She will combine her 25 years experience in the industry with her extensive knowledge of Bath to help you create a small portfolio of quality property. These acquisitions will be of a minimum standard, ensuring each property makes a high-value return for the investor. This will create a significant source of revenue, and potentially even be a tangible pension.
From finding you a Buy to Let property (or a number of properties) to sourcing local contractors, or from managing refurbishment to advising on the latest interior design trends, professional property broker Christine Penny is ready to share her expertise with you.
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