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Everything posted by maxine_mitchell

  1. Hi Craig, I think the latest report from Savills has a lot of value: https://www.savills.co.uk/insight-and-opinion/research-consultancy/residential-market-forecasts.aspx I would look at the North West region as this is forecast as number 1 for growth. Wish you all the best
  2. Hi Millie, Stretford is a great up and coming area and you will definitely be able to find a BTL in Stretford with strong rental demand and capital growth potential. If you would like to send me a message we can connect and I can show you some properties within your budget in Stretford. Maxine
  3. Hi, I am wondering if someone can offer some advice regarding stamp duty. If an overseas investor is purchasing property after April 2021 in the UK, how much stamp duty will they pay? I am using the pre-stamp duty holiday rates to calculate the total due. Here is a worked example: Purchase price: £150,000 Stamp duty: 3 percent * 125k plus 5 percent * 25k = £5k There will be an additonal 2 percent surcharge added in April 2021 - does anyone know exactly how we calculate this? Thank you in advance.
  4. Hi, Just wanted to see if anyone has invested in cryptocurrencies? If so which ones? Would like to know what people's experiences have been and opinions on crypto in general. Thanks
  5. Just something to consider I would say the Wirral could be worth looking at. Birkenhead is an area that is undergoing a lot of change Massive regeneration plans are underway: https://www.wirralwaters.co.uk/ You can get 2bdrm terraced house in Birkenhead for 60 - 70k. I own an end terrace house in New Ferry which is close to Birkenhead and am currently getting £475 per month in rent - I paid 70k for the property in 2017.
  6. Hi Aaron, I live and invest in Liverpool. If you wanted to contact me on a message on here I can share with you my experiences.
  7. L11 has a reputation for being quite rough so it may cause you problems in the long run. I don't know the area that well myself but the general consensus on L11 from locals is that it is not the best area.
  8. I would agree, the city centres of both Liverpool and Manchester are both being flooded with new build apartments. I think the effects of this will be felt more in Liverpool with its smaller population there is a risk element of there being an oversupply of stock. Tenant demand has changed since COVID-19, renters want more green spaces and are looking on the fringes of city centres. I think your money would better be invested within a 5 mile radius of the city centres. In Manchester, if you can find something near a Metrolink that would attract a lot of young professionals who can get the tram into the city. Coming from someone who lives in Liverpool I would suggest doing a lot of research of areas before making an investment. Liverpool has some great up and coming areas but also has some areas you would want to avoid due to the type of tenants it will attract and high levels of crime. I've seen some of the new builds in L1 advertised and in my humble opinion I think the rental projections are very generous, which will make the investment look more attractive than they may be in reality.
  9. Hi Joe, The new 2% SDLT surcharge for foreign investors will apply to purchases of property from 1 April 2021 by individuals and companies who are not resident in the UK.
  10. Dingle and Toxteth These areas are South of the city, and were once considered run down parts of Liverpool. There has been a lot of regeneration in the L8 postcode area and it attracts students and young professionals. You can get a great terraced house for around your budget. I like L8 properties as I feel there is good potential for capital growth and as well as strong yields. The area has access to many green spaces as well as transport links to the city centre. Bootle North of the city centre, Bootle is getting a lot of attention from investors recently. You can find property in the L20 postcode for under £100k.
  11. Hi Michael, I work in the North West and we deal with BTLs in Manchester and Greater Manchester. I would be happy to offer you some local knowledge of what the market is doing and the trends we are seeing up here. Drop me a PM if you wanted to connect. I wish you every success in your venture into the Northern property market, it is certainly booming up here and it is very exciting to be apart of it. Maxine
  12. Hi Lewis, I can see your post is over a year old now - how did you get on with selling your property? Manchester is certainly a hot market, with many new opportunities in the city centre and surrounds. Don't limit your search to the city centre. An area of opportunity is South Manchester - there are some great up-and -coming areas in the South where you can buy off plan. My advice would be to look for areas on the Metrolink so that it is easy for tenants to commute to work. You may also wish to set your sights on Greater Manchester - areas like Bolton and Wigan are performing well. Bolton is just 20 mins from Manchester so a lot of renters are moving to these areas as they can get more value for their money but still can easily get to Manchester city centre. Are you still searching for something? I wish you all the best!
  13. Hi Kit, It sounds like you have really experienced it all as a landlord! I'm so sorry to hear what you are going through. From a legal perspective you cannot start the eviction process until August 23rd, 2020 - the Government recently announced a two month extension to the ban on evicting tenants amidst the Coronavirus. The notice period you must give is 3 months instead of the previous 2 months as the notice will be issued after March 26, 2020. I agree with the previous post - the issues you have faced are most likely to do with the condition/type of property and the area. I think if you continue on with this property it will only deter you more from property investment which would be a shame because there is so much opportunity out there. I would look at selling this investment once you are able to evict your tenants. I am assuming the property is in London, so if you did sell you may be hard pressed to find something of quality in a good area for the money. I would set my sights on different areas in the UK. Look at areas that are booming. We deal with property in the North West, specifically Greater Manchester. We have a lot of investors from London who can buy quality apartments in desirable areas for a fraction of what they would pay in London. Have you been able to get in touch with the letting agent since you last posted? Do you have landlord insurance policy in place? If so, check if you have rent guarantee insurance so you can make a claim for unpaid rent. Stay positive (easier said than done I know!). You have a problem that requires a solution - You can get through this and I wish you all the very best!
  14. South Manchester is definitely a hot spot! Areas like Didsbury, Chorlton and Urmston have had strong growth over the years. However, as these areas are already established, they will price many first-time buyers out of the market and mean lower rental yields. Up-and-coming areas on the city outskirts are the best places to look at. When looking for potential properties in these areas, you should consider the following: 1. Ease of access to the city centre for tenants to commute to work - Metrolink is the thing to look for! 2. Access to parks and green spaces – since lockdown ended more tenants are looking for areas with more access to outdoor recreational spaces 3. Investment in the local area, it is a great idea to look at local council websites to get an understanding of what money has been pledged for regeneration of the area 4. A sense of community – tenants want to live in neighbourhoods that feel like home. Look for areas with lots of local, independent businesses – many areas outside of the city have nothing to draw tenants. You need areas that have cool bars, restaurants shops so that tenants have reason to want to live there. 5. Schools – to attract the family demographic look for an area that has access to good schools. In my opinion, a real find is Stretford. 3.8 miles from city centre and only 2 stops on the tram! It's starting to get a hipster feel for it with places like Stretford food hall offering craft beers, street food and live music. Trafford council is also pouring loads of money into the area. If anyone wanted more info on some investment opportunities in Stretford I'd be happy to have a chat
  15. Hi Mike, Awesome to hear you are starting your property journey! Happy to help. I know a great broker who has managed to get some great mortgages for my clients. Let me know if you are still looking and I can send the info across. All the best!
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