Property investment dilemmas.

Kurious_22

Hi all,

I would really appreciate any advise you have regarding property investment as I keep chopping and changing my mind (while house prices continue to rise) between investing in another city or more locally such as a town.

This would be my first property to get on the property ladder and I realize it's incredibly difficult for a first time buyer to get a buy to let mortgage but i am hoping that my healthy budget will convince the lender.

I live in London and have done so all my life, and my work and family are both local.  My current living situation is more than comfortable so i don't intend on moving for now, but in the future I hope to have my own home or at least a home for my kids to move into. I cannot afford London so my only options are:

- Buying a house in the deeper parts of Essex and Kent i.e.  seaside resorts (though i worry about transport)

- Or Flat more locally (would be looking for something more like conversion style or no more than 3 flats)

- OR another city i.e. Nottingham, Birmingham, Manchester, Liverpool. My only concern about this option is my motivation as whilst I can arrange online viewings and would have a managing agent look after the property, I would also like to occasionally check on the property in person but don't fancy the commute at all and have no intelligence as to the best locations to buy. At the same time, buying in these areas gives me more house, more land and would be paid off for much quicker.

Which do you think is the better investment?

Any recommendation on areas?

What are your thoughts about buying in the current market?

Thrugelmir

As a non home owning borrower your options will be limited. Speak to a mortgage broker initially. As lenders in general no longer deal direct. 

dimbo61

So you want to become a Landlord and be on call 24/7 for your tenants ?
Healthy budget ? So Higher rate tax payer ?
Don't own your own residential property with a residential mortgage and history of paying every month !
BTL mortgage lenders may have a few issues with that.
I can't begin to list all the Hoops you need to jump through.
Single owner or Partnership, Limited Company ! 
Family or HMO ?
I could tell you about a few of the dozens of Rules, Regs and Laws governing renting out a property but I could talk all night.
Stocks and shares, ISA, LISA, Pensions, premium bonds.
Buying your own home to live in ( Now that's an idea )

Kurious_22

@Thrugelmir thank you for your advise.