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Why invest in Essex?
If you are looking at getting a buy to let mortgage, Essex is a county that has seen a huge increase in the number of people working and living there over the past decade. With this increase in population, there has also been an increase in demand for rental properties.
The Essex region of England is a popular area for first-time landlords and experienced investors alike. With a thriving economy and a great selection of properties, Essex is an ideal place to buy to let mortgage.
The economy of Essex has been growing steadily since the mid-2000s, and employment numbers have been consistently high since the end of 2008. This is due to many factors, including increased foreign investment and the popularity of Chelmsford as a business hub.
There are also many places to live in Essex, with over 200 towns and villages across the region. If you are looking for somewhere cosmopolitan, there are plenty of options in London, if you’re more interested in living on the coast or by your own countryside garden then there are many options on offer too!
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Essex is a county in the East of England. It has an area of 1,664 km² and a population of 1,443,000 so as you can see a lot of potential for tenants for your buy to let property.
The name “Essex” is an abbreviation of the medieval Latin phrase “Excessivam Sequanorum” meaning “Beyond [the] River [Thames]”.
It has been home to many different cultures over its long history. It was originally inhabited by Celts, and then Romans, Saxons and Vikings. Today it is a major centre for tourism, with attractions like Southend-on-Sea’s pier, Harwich’s sailing lifeboat museum and Colchester Zoo.
The property market in Essex
The property market in Essex is one of the most desirable in the UK. Home to a number of major cities and towns, including Chelmsford, Southend-on-Sea and Colchester, it’s no wonder that so many people want to live here.
Property prices in Essex have been rising steadily over the past few years, but that doesn’t mean it’s easy to find a good deal.
Are the transport links good in Essex?
One thing tenant look for when choosing a place to live can be the transport links. Essex is a great place to live and work. It has a lot of transport links, making it easy to get around.
It has two main airports: Stansted and Luton. These are both around 30 miles from Chelmsford, which is the county town. Chelmsford is also close to the M11 motorway, which runs through Essex.
Essex has many rail links too. The main ones are between London Liverpool Street station and Southend Victoria station, as well as between Colchester Town station and London Liverpool Street station. The London Underground also has a branch line that runs from Bow Church station in east London up to Shenfield station in Essex.
Are you looking to invest in a buy to let to rent to students in Essex?
The two biggest universities in Essex are Colchester University and University of Essex. There are also numerous smaller colleges and training providers such as South Bank University and Loughborough University.
Colchester offers courses in arts, science, law, music and business, while Essex has more than 50 undergraduate courses on offer including nursing, accounting and engineering.
It is ranked second in the UK when it comes to student populations, with over 100,000 students living there. The number of students living in Essex has been rising over recent years and this trend is expected to continue.
There are many reasons why Essex is such an attractive place for students to live, one of these being its proximity to London. Students visiting or studying at the capital will find themselves within easy reach of Essex by train or bus from Epping or Stratford stations. Another reason why Essex is so popular with students is its affordability; there are many affordable properties available for rent throughout the county which makes it a great location for those looking to buy their first property or those who want to rent out their property as part of their investment strategy. You should be mindful of how your student loan affects your mortgage.
Should I use a letting agent to manage my buy to let property in Essex?
This is a question that many landlords ask, but it’s important to remember that it’s your property and you can do whatever you want with it. If you want to manage it yourself, then go for it! You might find that the extra work is worth the control.
However, we would advise taking a look at the benefits of using a letting agent before making your decision.
Benefits of Using an Agent:
To start with, they will be able to give you advice on how to manage your investment. They’ll also be able to help with things like finding tenants and managing repairs. This takes away some of the stress involved in being a landlord, as well as giving you an opportunity to make some money from renting out your property.
The main advantage of using an agent is that they will know how much rent should be charged for properties like yours based on factors such as location and size; this means that they won’t have to guess when negotiating with potential tenants. They will also have access to databases where they can find suitable people looking for somewhere to live who can afford what you’re asking for rent.
How much deposit do I need to buy a buy to let in Essex?
The first step is to decide what kind of property you want to buy. If you’re thinking about buying a house that will be rented out, then the first thing you’ll need is a deposit.
A typical mortgage lender will require an initial deposit of 25% of the purchase price. This means that on average, lenders will want to see 25% as an initial payment before they’ll give you a mortgage.
This is generic information and will depend on other factors such as your personal situation or the rental income from the property. That’s why it’s always important to speak to a mortgage adviser who can work out your options.
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3 Popular towns to live in Essex
It’s important when investing in buy to let property to choose a good location. When buying your buy to let in Essex, do some research on the different areas to make sure they are suitable for your investment strategy.
Below is some information on three popular towns in Essex where there will be plenty of potential tenants for your buy to let property.
Basildon is a one-time new town that was created by merging several Essex villages and today Basildon is one of Essex’s largest towns. Basildon has grown fast in recent decades as new industries have been attracted to locate in the area.
Basildon has great transport links around the region by both roads, being close by the M25 London Orbital Motorway, and rail. It is well located for access to the rest of Essex including Southend on Sea, Rayleigh, Chelmsford and Brentwood. London is also commutable from Basildon in around 40 minutes with frequent trains from Basildon, Pitsea and Laindon.
Basildon is a major commercial and light industrial town, and the area has one of the largest economies in the south-east which provide many jobs and increase the demand for housing. Employers in the area are mainly in automotive, aerospace, defence, innovation and R&D.
This bustling business hub is home to more than 15,000 residents, many of whom are drawn by its close proximity to London, as well as its great transport links with other southeast towns and cities.
Brentwood has plenty to offer its residents when it comes to entertainment and leisure activities too. There are plenty of shops and restaurants on offer here, including some of the best restaurants in Essex – so if you like your food, then this is the place for you!
And if you’re looking for somewhere with lots going on in terms of culture or history then there’s no better place than Brentwood because it’s also home to several museums that document the town’s rich past.
Chelmsford is a city in Essex, England. It was granted city status in 2012 and is a hotspot for economic and housing development. The key employers are modern industries including financial services, science and technology.
The population of Chelmsford is fast-growing and has reached 100,000 people by 2015. Many new homes have been built over the last few years to accommodate this growing population.
It’s an ideal place for first time buyers who want to live in an area with plenty of amenities nearby such as shops, restaurants and bars.
Do I have to use a mortgage adviser based in Essex?
No, you don’t have to use a mortgage adviser based in Essex. You can use the one that’s most convenient for you, whether that’s based in Essex or not.
Some people prefer to have a local adviser but with the way of the world now, many opt to use a telephone adviser, so they do not have to travel to mortgage appointments around work commitments.
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