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.
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| Hayling Court, Broadfield, Crawley |
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