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Buy to let ship sailed?

Hi All, I would like to purchase a buy to let and have been advised that the ship has sailed on this? Has the ship really sailed or is it difficult to find something viable to on-board? Also what are your thoughts on investing in Birmingham? Is it the next hotspot? Should someone out side of Birmingham invest in a city that they cannot easily get to? what are your thoughts on this? Thanks

Asked on Aug 14 2018, General in London | Report content

Answers (1)

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  • Hello, I wouldn't say the ship has sailed, but the rules have changed. With the Section 24 legislation, stamp duty surcharge and Prudential Regulation Authority (PRA) stress-testing calculations, buy-to-let in London is hard without having a significant sum of capital. The (subjective) question here is whether this money would be better invested elsewhere. Generally speaking, in Birmingham and much of the midlands / north, prices are relatively lower so your rental yields are usually better. I would network and talk to an experienced accountant and mortgage broker before doing anything else. Feel free to drop any further questions you have here. All the best with your plans. Ruban

    Answered on Aug 14 2018, Report content

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