11:17 AM, 6th May 2016, About 5 years ago 9
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
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleCouncils told to stop telling tenants to stay till the eviction date
Next ArticleManagement company incompetence has cost me!
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|