Should I buy in a selective licensing areaMake Text Bigger
Hello friends, I would be grateful for your opinion about something urgently. I have done my research, but it would be really helpful if some landlords with experience can give me any advice.
I am planning to buy a BTL property just a standard 2 or three bed terrace in Middlesbrough, a decent home as investment. The problem is that I don’t know where exactly in Middlesbrough I should buy? I spoke with the Middlesbrough council and apparently North Ormsby and South Bank are under selective licensing. Gresham area is not under selective licensing, but property there is slightly more expensive. Obviously Middlesbrough area is quite cheap and the yield is nice.
1) which scenario is better folks to buy cheap property with cheap mortgage with good profit but within a licensing area requiring a licence (like North Ormsby) or to buy slightly more expensive property with bigger mortgage less profit but no licence for now(like Gresham)
2) What is your opinion about the selective licensing in Middlesbrough is it difficult to get a licence, I never been criminally convicted or had any major credit problems or anything like that.
3) Should I be concerned and scared from house in selective licensing area or to buy with confidence if the area is alright in general and the numbers look nice
Thank you so much for your help, please give me advice any advice is appreciated , more opinion and advice is really appreciated. Thank you and all the best
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