Bath named as top buy-to-let location.ON THE 10th anniversary of the buy-to-let mortgage, Birmingham Midshires Birmingham Midshires is a commercial bank in the United Kingdom, a division of Bank of Scotland plc (part of HBOS). It is headquartered at Pendeford Business Park, Wolverhampton, England and has 67 offices throughout England. reveals some key facts about the UK's growing buy-to-let market and gives its list of the best places in the UK to achieve a good rate of return. The UK's top five investment hotspots (2004-2005): Bath and South East Avon East Avon, river: see Avon (2,) river, England. with an overall rate of return (capital appreciation and rental yield) of 36.4 per cent. Kent - 34.4 per cent Worcester - 32.7 per cent Newport Newport, town, England Newport, town (1991 pop. 19,758), Isle of Wight, S England. It is also a port and the commercial center of the island, with agricultural markets and light industries (plastics, soft drinks, and woodworking). In the 17th cent. - 28.4 per cent Torbay - 27.2 per cent. The buy-to-let market is worth pounds 84 billion and 152,000 buy-to-let mortgages have been taken out since January 2006 - a threefold increase on 1998. Birmingham Midshires says that over the last 10 years average weekly rents have increased by 1.3 times the rate of inflation, from pounds 75 to pounds 118. Tim Hague, director of mortgages at Birmingham Midshires, said: "More and more people now see letting property as an achievable investment and an important part of a balanced investment portfolio." |
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