You could say Sheffield is the Rome of South Yorkshire, both having rich and fascinating history, and they’re both built on seven hills. However, unlike Rome, Sheffield offers lots of opportunities for property investors, plus some of the lowest property prices around.
Buying your first home can be a little bit daunting, but we’re here to help with all the challenges of finding your perfect place.
Looking for a better mortgage deal? Or to release some of the equity in your home? The process is often not as easy as it first appears.
Thinking of selling your existing property and moving to a new home? It’s important that you try and budget accurately. Find out why.
This can be one of the popular mortgage options available for those wishing to invest in the residential & rental property.
Sheffield, or the Steel City is amongst the fastest growing cities in the country – which is good news when it comes to future demand for accommodation. The current population is 575,400 but official forecasts say the South Yorkshire city is likely to increase to 652,300 by 2039. That’s almost 80,000 more people to house.
You don’t have to live in Sheffield, or the UK to know that the city is famous worldwide for being the Steel City – known for the invention of stainless steel, and the engineering of steel are still highly important and key industries today, other sectors are thriving through the South Yorkshire city, such as logistics, distribution, health and education, finance, and telecom services.
For property investors, you coudn’t of moved to Sheffield at any better time. Developing new and high tech industiries, and high paid jobs at businesses like, AMP, The University of Sheffield, global brand, Rolls Royce and Mclaren, who have recently moved in the past two years.
If you’re wanting a budget proprty investors paradise, Sheffield is one of the cheapest major cities in England to buy a property. The average property price here is £138,200 – only Liverpool and Newcastle are cheaper.
However, cheap doesn’t necessarily mean you can’t make a profit on your investment through. Sheffield property prices have risen by more than £33,000, on average, since the 2008 financial crash – one of the largest increases of any major Yorkshire city.
According to Stephen Kerrigan, mortgage advisor in Sheffield, the S1 and S2 postcodes are amongst the best buy to let areas in Britain for yields, offering 6.85% and 8.16% respectively.
Sheffield property investors need to know that Sheffield City Council has property licencing schemes in a few selected parts of the inner city so you need a licence to let a property.
Most big banks and a few other institutions offer buy-to-let mortgages.
You should inquire about a buy-to-let mortgage with your local broker. They will be able to determine the best fit for you before applying.
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