Good Morning. Ive been hunting the market and came across a property for sale with Milesstone Residential.
Which in our opinion is a great deal for the buy to let buyers out there in Hounslow.
So Why do we think its a good buy to let deal?
Well for all Landlords the number 1 reason for buying property is ROI (Return of Investment)
you want to make money on your money. Simple.
What good way to do than investing in property.
Now Lets take this property in the above link. A 2 bedroom Property being marketed by Milestone residential at an asking price of £254,950.
From a buy to let point of view:
Expected rental is circa £1300 per calendar month. (£15,600 per annum)
Therefore this gives you a Return on Investment yield of 6.1% gross. Which is fantastic when neighbouring areas are giving around 4% yields and Central London giving as low as 2% yields.
Lets look at this another way.
You put down 25% of £254,950 as a deposit to get your mortgage. Thats 25% of your hard earned cash. which in this case £63,737
By using the mortgage calculator from money saving expert it gives you an approximate figure of your mortgage payments.
Based on interest only mortgage repayment this will be £480 per calendar month. and based on repayment mortgage will be approx £911 per calendar month.
Therefore based on the potential rental income of £1300 per calendar month (£15,600 per annum) and your mortgage payment being between £480 – £911 per month; your’re looking at a 7% – 15% return on your hard earned cash of £63,737.
Thats a fantastic Buy to Let deal in our opinion.
If your a buyer or Landlord looking for advice on your next or first purchase. Feel free to get in touch.
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If you want any more information on your next investment property in Hounslow or surrounding areas, or anything to do with Property Investment in Hounslow including renting and selling your investments/property, please feel free to call …
Manraj / Sheetel Bisran : 0208 577 8855