with people seeing this as a potentially good return on their investment. A recent report shows the market looks set to continue to grow although at a reduced pace but in general is holding firm. Where to invest is a question always being asked, the report shows that Manchester, Hull and the Blackpool area are currently seeing very good growth. This is all due to reasonable house prices compared with the South of England and an increased demand for rental property. Landlords in these areas are seeing a very health return on their investments compared to leaving the money in a traditional bank account. One of our regular clients commented “the North of England is without doubt a good growth area with property prices being the leading factor for investment”. “Demand for quality rentals is growing daily in the North and rents are increasing”. Mortgage choices If you are considering entering this market or an existing landlord you are going to be spoilt for choice on your mortgage. There has never been such a good time for a buy-to-let mortgage deal as products in this area seem to increase daily. Interest rates remain the lowest they have ever been and the Bank of England announced last week the base rate is to stay at 0.5% for next month. This is all very good news but it is rumoured rates could be on the rise next year, so it may be very wise to keep this in mind. If you have a deal coming to the end of its offer period or a no exit penalty deal you may wish to look at the range of fixed rates on offer. Fixing your next buy-to-let mortgage for 2-10 years could be the wisest move you could make to maintain profitability on your portfolio. Need to review? If you require assistance or would like to talk over your current mortgage contract please do call one of our experienced advisers and we will be pleased to help.
