Top Three Places To Invest named in new league table

The Confused. com service has analysed rental yields, educational achievements and local amenities to come up with what it claims are the top three places in the UK to invest. 

They are Newcastle upon Tyne, Dundee and Aberdeen.

Confused has also comes up with top tips for those starting in property investment:

Understanding the opportunity: The first step is learning as much as possible about property investment. You can do this by reading books, attending seminars, joining online forums, and speaking to experienced property investors.

Define your investment goals: Identify your long-term financial goals and objectives. Are you looking for capital appreciation, rental income, or both? Your goals will influence your investment strategy.

Build a financial plan: Understand your current financial position and build a comprehensive plan. This includes your budget, cash flow analysis, and an estimate of your projected expenses and income.

Consult a mortgage broker: A mortgage broker can help you understand the best financing options and which buy-to-let mortgage works for you. They can also help you with the pre-approval process and guide you on how to qualify for a loan.

Shop around for the best rates: Just as you would compare properties or any other investments, it's essential to compare mortgage rates. Different lenders offer varied rates and terms, which can significantly affect your monthly payments and overall return on investment. Shopping around and comparing offers can save you significant money in the long run. A consultation with a whole-of-market mortgage broker can provide insight into the market's available rates.

Do market research: Study the property market in the area you're interested in. Consider factors such as property prices, rental demand, and future development plans.

Choose a suitable property: Once you understand the market, you can search for a property that aligns with your investment goals. Keep in mind factors such as location, size, and amenities.

Consider property management: If you plan to rent the property out, consider hiring a property management company. They can handle tenant acquisition, rent collection, and property maintenance on your behalf.

Understand legal requirements: Be aware of the legal requirements of being a landlord. This includes local property laws, tenant rights, and health and safety regulations.

Seek professional advice: Seek advice from brokers, estate agents, accountants, and lawyers who can provide valuable insights and help you navigate the buy-to-let investment process.