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Trafford, a large metropolitan borough of Manchester, is already world famous as the home of Manchester United and the Old Trafford cricket ground. Furthermore, with the third largest shopping centre in the United Kingdom, there is already a lot to shout about in the area. Nevertheless, Trafford is currently undertaking millions of pounds worth of regeneration, through a master plan that is spanning over the next decade. From housebuilding to leisure centres, the regeneration project will completely transform Trafford. The enormous Civic Quarter regeneration scheme covers 120 acres and includes building a new leisure centre, improved public spaces, a new university campus, housing, office space, and upgraded cycling and pedestrian routes. They also include a new public piazza which would serve as a focal point for celebrations and events throughout the year. It will turn Trafford into a vibrant and sociable area for everyone in the borough to enjoy. For property investors, Trafford is bound to become a hotspot of investment opportunities. Furthermore, with transport services ever improving and a metro link only minutes away taking residents straight into Manchester City Centre the location has become an extremely popular tenant location.
There are also firm plans for a £1 billion mixed use regeneration scheme called Manchester Waters. Evolving over the next 20 years, the project will bring 3,000 new homes, local amenities, over 100,000 sq ft of amenity space and 850,000 sq ft of offices to the area. Works are set to commence in early 2022 and the development is estimated to create over 5,000 jobs and include a new primary school plus open spaces for residents, employees and visitors to live, work and play. The high-quality public space and landscaping with green and water corridors throughout the development will promote community in the area
Securing a mortgage is a huge financial commitment. Whether you are saving for your first investment or financial planning for your next, it is crucial that you calculate correctly. Use our mortgage calculator to help to determine what your monthly repayments will be. This way you can ensure that the rent earnt covers the repayments on your buy to let property.
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Use this calculator to determine the Stamp Duty Land Tax (SDLT) on your property investment. Stamp Duty is a tax paid by the buyer of a UK residential property. The stamp duty rate ranges from 2% to 12% of the purchase price. However, it can change based upon the value of the property, the purchase date, and whether you are a first-time buyer or not. Also, a 2% surcharge is added to each of these rates for buyers who are non-UK residents.
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Discover whether a property is worth investing in. Use our Rental Yield Calculator to work out the rental yields on your investment.
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