If you’ve toyed with the idea of investing in a buy to let property but have never taken the plunge – now might be the time to give it some serious consideration.
A report1 at the end of April by Moneyfacts stated that buy to let mortgage rates are tumbling; at the same time the report found there’s been a dramatic increase in the number of mortgages available: Two years ago, there were just five two-year fixed rate buy to let deals priced below 3%; today that figure has rocketed to 83.
Sue Fisher is the managing director of Preston Bennett – part of the Hamptons International group – said: “In my job, I see a lot of high quality properties being bought and sold in and around the capital, but there is something about Millbrook Park in Mill Hill that really caught my attention.
To start with, a Linden Home is always a really lovely product and all of them are beautifully finished. This combined with the location and you have a really special property. I quickly realised the investment potential of these homes and I was impressed enough to buy one myself.” Sue reserved a Millbrook Park one bedroom apartment off plan. As soon as the apartment was ready, she rented it out.
“The apartment is beautiful: It’s cleverly designed and expertly finished. Not only does it have the wow factor, it also has its own roof terrace offering private outside space.
“Because of the superb location, Millbrook Park homes command high rentals and I’ve already seen a considerable amount of capital growth in the apartment itself. I would much rather be investing my money in property like this – I think it’s far more productive than letting your cash languish in the bank.”
Simon Pendlebury is the director of sales and marketing at Linden Homes Chiltern: “London is still an obvious choice for property investment and there seems to be an unrelenting appetite for rental properties in the capital. With so much demand from people moving in from around the UK, those coming in from abroad and the young professionals who might be finding it a struggle to buy their own London home, the buy to let market in the capital is extremely buoyant.”
Prices for a three bedroom terraced house at Millbrook Park start at £655,000. Prices for a four bedroom end of terrace house start at £750,000.
Preston Bennett 020 8954 8625/0844 488 3192 lindenhomes.co.uk.
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