11 Jul Now could be a great time to become a first-time landlord
Information from a market-leading property portal indicates rents have risen at the fastest rate on record, and tenant demand has almost doubled. At a time when interest rates on traditional savings accounts are low, many believe it is a good time to invest in the property market. *
Lenders are evidently committed to supporting prospective landlords. A recent report from a popular money comparison site revealed there are currently 2,235 mortgage products on offer to first-time landlords, an increase of more than 70% than the same time last year.
A huge 64% of available buy-to-let mortgage products are catering to first-time investors and rates are attractive, allowing landlords to protect themselves against future rate rises by locking into a good deal with a fixed-rate mortgage. The average two-year fixed rate mortgage for a first-time landlord is currently 3.19%, rising to 3.47% for a five-year fixed product.
If you would like to explore buy-to-let properties and mortgage products which could lay the foundations for your property portfolio, call us today and talk to one of our team members.
Properties available for sale
For Sale 2 bed Flat
Hardrow Road, Armley
Guide Price £65,000
CASH BUYERS ONLY!! **NO CHAIN SALE** FOR SALE BY MODERN METHOD OF AUCTION (??*for further information about the auction process, please see the special note below) WITH ADVANCE PROPERTY AUCTION. STARTING PRICE £70,000 PLUS RESERVATION FEE’S APPLY** Spacious TWO BEDROOM GROUND FLOOR APARTMENT with lounge/diner, kitchen & bathroom – Requires modernising & offers bags of potential, ideal for property developers, buy to Let investors and first time buyers.
For more info: https://hardistyandco.com/properties/hardrow-road-armley/
For Sale 3 bed Flat
Eyres Mill Side, Armley
Offers Over £125,000
IDEAL FOR INVESTORS with tenants in situ paying £595 pcm. VACANT POSSESSION can be offered too, so ideal first home!
For more info: https://hardistyandco.com/properties/eyres-mill-side-armley/
3 Bed House – Terraced For Sale
Park Avenue, Armley
Offers In The Region Of £155,000
WELL PRESENTED & SPACIOUS THREE bed., back to back terrace on one of the most sought after streets in Armley, Perfect 1st home or investment.
For more info: https://hardistyandco.com/properties/park-avenue-armley/