UK house prices dropped by £10,000 in July, the most recent figures, according to the Office for National Statistics (ONS). But they’re still up by 8 per cent compared to this time last year – almost 12 per cent in Wales and more in Scotland. And in July, a typical home in London still cost £495,000, despite average prices falling two per cent.
How can buy-to-let landlords maximise the rental yield on their next property with house prices so high, especially with the withdrawal of the stamp duty holiday at the end of September? By buying a property that cannot be mortgaged. Sounds like an oxymoron – bear with me.
Landlords can save a fortune by buying an investment property with no bathroom, kitchen, or that needs rewiring – especially at auction.
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