Thursday, 1 September 2016

Crawley Property Investment in Hayling Court, Broadfield

With an increasing number of price reductions appearing in the property listings there seems to be a choice of properties for landlords who are looking to invest for the first time or add to their portfolio.  I have seen this 2 bedroom flat in popular Hayling Court have its sale price reduced by the current agent Homes Partnership.  You can view the details by clicking the link below:

I have always found Hayling Court to be a popular choice with tenants.  The block is well maintained and offers easy access to any tenant requiring the FastWay bus network to Gatwick or the mainline stations.  A tenant with a car would make use of the garage and the easy access to the M23 from Junction 11.  The flat itself has 1 double and 1 single bedroom which helps to peg the rent at a slightly lower level and make the flat affordable for a couple with 1 child.  Is £190,000 a bargain price for a flat in Hayling Court – probably not.  But I would expect a rent of £885 which would result in a yield of over 5.5% based on the current listing price.  Restrictions on buy to let mortgages are coming but rates are at their lowest level.  L&C Mortgages are showing a deal that has a fixed payment of under £400 per month for the first two years provided a £40,000 is paid as a deposit for the property.  Landlords will also need to factor in the stamp duty charge of £7000 for this flat.  If you are considering advice on a buy to let purchase or looking to sell a property you can contact me at the Martin & Co office in Crawley or call me on 01293 735000. 
Hayling Court, Broadfield, Crawley

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