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I'm currently purchasing 8 Granby Terrace, Leeds. The company said it was £249,950 and then discounted it to 237500. ...

I'm currently purchasing 8 Granby Terrace, Leeds. The company said it was £249,950 and then discounted it to 237500. Do you think this is fair value for a rental property in that street?

Asked on May 6 2008, House Prices in Leeds | Report content

Answers (1)

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  • It sold for £170,000 just two years ago. In today's market of falling house prices, they'll be lucky if they make that much when they sell - £237k is just pie in the sky. Your monthly repayments on a £237k mortgage will be £1600 per month. Potential rental income for that property is £1200 at the very most. The figures don't stack up, I'm afraid. Run as far as you can.

    Answered on May 8 2008, Report content

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