stamp duty: £14,800
mortgage fees: £1,500
conveyancing fees: £1,000
Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.
1 reception room
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Oldham is a large town in the Greater Manchester area in the north-west of England. It lies around 8 miles north-east of Manchester, 7 miles south of Rochdale and 4.5 miles north of Ashton-under-Lyne.
The town is linked to the M62 motorway via the M60 at Hollinwood and the A627(M) by Chadderton. There are a number of A roads that connect Oldham to Ashton-under-Lyne, Huddersfield, Manchester and Rochdale.
Oldham no longer has its own railway station but it is connected through the Manchester Metrolink to Manchester and Rochdale.
Some of the attractions in and around Oldham include Castleshaw Roman Fort, Huddersfield Narrow Canal, Saddleworth Museum, Dovestone Reservoir and Gallery Oldham. With its close proximity to the Peak District National Park there are plenty of opportunities for outdoor activities to choose from such as walking, cycling, horse riding, canoeing or rock climbing.
Throughout the year several events are being held such as Whit Friday Brass Bands contests, Saddleworth Rush Cart Festival, Illuminate, Diggle Blues Festival and Cotton Clouds Music Festival, offering a variety for everyone to enjoy.
Oldham town centre offers plenty of shopping opportunities with many independent shops as well as its two shopping centres, Town Square and the Spindles.
Historically the town’s economy was very strong in the manufacturing of textiles and mechanical engineering, but this has since been replaced by home shopping, publishing, healthcare and food processing industries.
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Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.
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