Commercial Investments

Whilst the days of making huge capital growth during a build programme may be over, if you select the right development in the right area and at the right price Buying to let still could provide fantastic long term gains. The population of the Manchester city region is poised to soar, a property entrepreneur has predicted.
Mike Ingall, the boss of Allied London, told the Manchester Evening News the city is poised to fulfil its potential as a major business centre, leading to an economic growth that will bring more people to live there. He said: "I believe in the next 20 to 30 years the city''s population will double to around five million people, command and may well have even trebled by 2050."  Of all UK cities only Manchester had the combination of airport, infrastructure and available brownfield sites to achieve such an expansion, Mr Ingall stated. Such a development could offer many buy to let opportunities for investors with buy to let as the city grows.

Projects to expand both the population and economy in Manchester include the New East Manchester project, which has a plan to increase the number of people living in the zone from the current 62,000 to between 90,000 and 100,000 by 2018 and to build 24,000 new homes there by 2025.

Buy to Let Mortgages are mortgages specifically designed for people who want to invest in the property market by purchasing one or more houses and letting them out to tenants. The Owner is then able to benefit from any appreciation in the capital value of the house itself. They are also likely to be able to maintain the property and meet much of the loan repayment from the revenue realised by letting. The buy to let phenomenon has driven house prices higher over the last few years while making a broader section of rental accommodation available.

Buy to Let Mortgages differ from what came before by specifically allowing the rental revenue to be considered as income when considering the ability of the buyer to meet the ongoing mortgage payments. Buy to Let mortgages are very similar to standard mortgages for property which the owner will inhabit. The percentage which the buy to let lender is willing to lend is likely to be restricted to 80% of the value of a property. The term of a buy-to-let mortgage is likely to be somewhere in the region of 5 to 45 years. Interest rates are also likely to be slightly higher than those which a standard mortgage agreement attracts. Many high street banks and building societies now offer a buy to let mortgage product. Independent mortgage broker will also be able to recommend mortgage arrangements which are not available on the high street and which will more perfectly meet your buy-to-let mortgage requirements.

Take a look at the buy to let investment opportunities that we have available in Manchester today.

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0870 383 0404

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