10:58 AM, 2nd December 2014, About 11 years ago 2
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I currently have a small portfolio of rental properties, three HMO’s and a residential flat. I have been pondering purchasing a further property by releasing some equity from my rented residential flat which is currently at a 38% LTV outstanding mortgage.
I am getting rather confused by the options. I would prefer a straight residential let. What is the consensus on 1 bed apartments on the outskirts of London, by which I mean the fringes of north west London. Are we likely to see growth with this type of investment. Some people are saying the south east is the place to invest and well likely see the biggest growth. I would prefer the investment to be near my locality if possible so it is easier to manage!
Cheers
Raji
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Member Since February 2011 - Comments: 3447 - Articles: 286
11:01 AM, 2nd December 2014, About 11 years ago
Hi Raji,
Just to get you started here is our property research tool >> https://www.property118.com/property-reseach-tool/
Mandy Thomson
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Member Since November 2013 - Comments: 1130 - Articles: 2
13:01 PM, 2nd December 2014, About 11 years ago
Hi Raji
I rent property in Croydon, but live in NW London.
NW London is clearly a desirable area, and convenient for transport and other amenities, but so is most of London and the SE.
Croydon is a particularly good area to invest in, as at the moment property there is cheaper than many other parts of London, but is likely to rise in value with the planned Westfield Hammerson shopping centre and several other regeneration projects – the local paper reported buyers offering over the asking price on several property transactions!
However, anyone looking to rent property in Croydon needs to be aware of the proposed landlord licensing scheme – this is proposed to be borough wide (same as Newham) and the initial fee suggested was £1000 per property! However, the council are now consulting on other options, and there has been some mention of the fee being reduced, but this is nevertheless something to bear in mind. A possible option might be to purchase just outside the borough, in neighbouring boroughs such as Sutton or Bromley, which both have fast direct links into Croydon.