I want to buy a 2 bedroom property in Sheffield in the hope to then rent it out with a target market of professionals or working families. What areas of Sheffield do you think professionals and working families would like to live?

Trying to work out if there is any law which states you must go with a mortgage on the basis of what you want to do with your property.

For example do I have to go with a buy to let mortgage if I want to buy a property knowing I will eventually want to rent/let it or can I go with a regular mortgage and let it anyhow?

Without a buy to let mortgage am I still eligible to be able to get cover for rent guarantee?

S10 should be fairly safe for you if you are looking at houses.

As regards mortgages, there is no specific law, it's just between you and your mortgage company. Check what the documentation says. BTL mortgages often have better terms for that kind of product.

I appreciate the response. Thanks.

Are the following areas safe/clean areas to live:

Page Hall
Heeley
Ellesmere

I went up Barnsley Road yesterday and noticed that a number of houses had a uniformed look with brick and wrought iron fencing. I'm hearing that there was some sort of scheme where house owners and tenants were given funding to enable this project to go ahead. Does anyone know more information on this?

if you dont the area, dont risk it it unless your prepared to lose a lot of money.

Although Page Hall is OK, I can imagine quite a few "professionals" would want to live their

spoonz I didn't understand your response did you mean professional WILL or WON'T live in Page Hall or in fact the other areas I mentioned?

I couldn't tell you if it's true, but I think he meant a different kind of 'professional' to the ones you had in mind - if you get my drift. :P

[QUOTE]Originally posted by Miss_Mention


For example do I have to go with a buy to let mortgage if I want to buy a property knowing I will eventually want to rent/let it or can I go with a regular mortgage and let it anyhow



When you buy a property you have to agree what kind of mortgage you want. Normally you would have a domestic mortgage if you want to live in it ( much better deals ) and a buy-to-let if you rent it.
You can get a buy-to-let and live there yourself first but you cannot get a domestic mortgage and then let it without the mortgage company agreeing. Many companies do not do buy-to-let so this could be a problem. Also, the best value mortgages have discounts for so many years and you would perhaps have to pay a penalty if you changed it in any way.
On the other hand some people get a domestic and let it without telling the mortgage company... but could be risky.

I think that buying between Heeley and Woodseats is your ideal area for families and professional. Sheffield 10 is more for students. I have some houses in the Meersbrook area and I rent them out to families and or professional. I have never really had any problems in renting in this fine area. I think it's that good that I and my 2 girls and partner have lived there for the last 20 years or so. It is very diverse and has very good infants & junior schools . The secondary school up at Meadowhead is very good , but the school at Newfield is not that great, but getting better. There are 2 parks and a city farm and plently of shops and fittness clubs. Plus this area as all types of housing to suite all types of budgets

I can't see many young professionals being drawn to Page Hall somehow. Places more likely to appeal would be Crookes, Broomhill, Hunters Bar, etc.

Originally posted by philg
Sheffield 10 is more for students.


Sheffield 10 covers a very wide range of places. For example, Fulwood, Crosspool and Lodge Moor can hardly be regarded as being "for students", while Crookes and Broomhill definitely "appeal to students and young professionals alike" (to coin an estate agent phrase I'm sick of reading).