I have 50k to invest in property im looking to put down as a deposit - im lookign for rental return and or capital growth in London -
Startford?
Hackney?
Kings Cross?
Any thoughts on these and or any other locations you would recommend -
2006-11-14 08:47:46 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
well i live in london, thats why im looking here can manage it better - Manchester does look good - I never thought liverpool -
2006-11-14 09:04:21 · update #1
Seriously, I'd look at other cities outside of London if this is a house to rent. For example, Liverpool is being awarded the Capital of Culture next year and the house prices have risen very sharply. Manchester is also extremely up and coming and property prices have shot up there also. Look into other areas, see how much investment is going on there and you could find your investment increasing far more rapidly than in London.
2006-11-14 08:56:17 · answer #1 · answered by strawberri_shortcake 3 · 0⤊ 0⤋
Your budget should be 200k as you will need a 25% deposit for a buy to let mortgage. Unless you take the risk of doing it with a residential mortgage and getting done for mortgage fraud. In London you are looking at a one bed flat for that price. I would look at east London. Stratford is a really good one in my opinion. You will get a lot of city workers looking there. East London is so close the the city and is cheap. Whatever you do, don't live there as it's a horrible place to live. I always say, I can't afford the places I wouldn't want to live and can afford the places I would.
2014-10-07 00:12:59 · answer #2 · answered by Antony 2 · 0⤊ 0⤋
All of London is an marvelous investment selection as properties are in call for and are very costly, even with the indisputable fact which you wont get something with £two hundred,000 you will possibly prefer a minimum of £500,000 probable extra.
2016-10-22 02:23:36 · answer #3 · answered by ? 4 · 0⤊ 0⤋
It's me again!! With the current exchange rate, buying in the UK is not a smart move right now. $50k is about 25K sterling. Most Brits are buying here right now b/c the prices got way out of control over there. Be very careful when buying in a foregin country. You go by their rules and use their banking to finance the property.
If you are still serious about the UK, please let me know as I have several contacts over there and can help you out.
JJdriskel
2006-11-14 08:58:59 · answer #4 · answered by jjdriskel 3 · 0⤊ 0⤋