Buy to let allows Britons with the capital to invest in property, renting the homes out to maintain them. Initially Britons were put off by changes to tax that meant buy to let was a less attractive prospect.
Now stump duty has ben cut landlords are likely to reinvest in the market. Should you?
Howsy, a letting management platform, showed by to let income is down by 13 percent.
Rental prices have been falling as the economy is hit by the coronavirus, meaning less people can afford to rent, someone aspiring landlords will need to be aware of.
On the other hand, at the higher end of the market landlords can save £15,000 on stamp duty.
READ MORE: Best UK towns for buy to let investment revealed – landlords should put their money here
For those thinking buy to let is their preferred option for investment, various buy to let mortgage calculators exist to assist aspiring landlords.
One such, by Habito, will tell Britons how much they could borrow and what they monthly mortgage cost might be on a buy-to-let basis.
Website Money Facts has a buy to let rental yield calculator to work out the expected yield for a landlord on a yearly or monthly basis.
The UK’s buy to let hotspots have been revealed post lockdown by an online broker.
Mojo Mortgages has analysed popular buy-to-let postcodes across the UK and detailed where the best yield hotspots currently are, and the places to avoid.
The North West is one of the best regions that is currently generating high yields.
There are a number of profitable pockets in Liverpool City Centre that are generating yields of more than 10 percent.
Bradford and Sunderland follow Liverpool, generating yields of eight percent and nine percent respectively.
What is more, buying now could be a good option as prices are set to rise according to one expert.
Director of House to Buy Fast, Jonathan Rolande, said the stamp duty cuts will cause property inflation.
He added: “It will prompt people to move if has an end date and can’t do any harm.
“As they say it will kick the can down the road, people will buy like mad then resent paying the stamp duty.
“With incentives such as a cut on stamp duty or the help to buy scheme, all it does is fuel property inflation.”