Get a copy of the local paper

I think it depends on the area and it depends on what sort of deposit you have. I've had my two bedroom place two years now, and I think it was worth the 140k we paid for it, but if we were to rent it out the most I've seen a two bed advertised for is 650 per month I think, and that would not cover the mortgage.

I guess if you were on an interest only mortgage it would cover it, but including things like service charge and insurance, it's a close run thing.

If the point is to just get established, then you might not be worried about making the profit right now, but you don't want to be making a loss I suspect.

With other types of flats in other parts of town, I expect the figures stack up better, but I would be wary of any of the new flats that I think have been all bought by investors, you see the same flats advertised week after week in the paper, there's a lot of competition. Maybe a house, or a couple of studios would be better as buy to lets, I don't know.

The local paper is called The Folkestone Herald, they're not online but they're published by Kent Regional Newspapers, email newsdesk.heraldexpress@kentregionalnewspapers.co.uk or phone 01303 850999 - that's the news desk, the only number I can find...

6 Jul :: 2006 :: Comment / reply