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Nottingham postcode has strongest buy-to-let yield

Nottingham postcode NG1 is offering the highest rental yields in England, report from credit eligibility and comparison firm TotallyMoney has found.

Nottingham properties provide a yield of 11.99%, with an average asking price of £152,631 and monthly rental value of £1,525.

Other postcodes with strong yields include L7 in Liverpool (9.79%), TS1 in Cleveland (9.45%) and L1 in Liverpool (9.33%).

Mark Moloney, TotallyMoney’s head of brand and marketing communications, said: “With students flocking to university cities year after year and looking for a place to live, it’s no surprise the student market is a dependable one for landlords.

“Since so many students are looking for accommodation, landlords may use this as an opportunity to drum up competition between them.

“But, due to the tenant fee ban, changes in mortgage tax relief, and tighter buy-to-let lending criteria, rental profits are now being squeezed more than ever. To maximise their returns, landlords need to be savvier — and that’s where our map and mortgage comparison tool can help.”

The worst postcodes in terms of yield are CW12 in Crewe (1.88%), HP9 in Hemel Hempstead (1.91%) and N6 in London (1.93%).

Source: Mortgage Introducer