A North West property group is offering investors the chance to get a return from the region’s booming house prices.
Peter Kiely, chief executive of Harewood Associates, said it was seeing increasing interest from people seeking to buy shares in its investments and receive a substantial return of the profits of property sales.
He said the initiative avoids having to pay rising mortgage costs and answering personal, invasive questions to even be approved.
It can also be approached with a smaller amount of funds – the average house deposit is now £31,000.
Harewood Associates is one of the leading companies sponsoring this year’s Be Inspired Business Awards, which holds its ceremony in September where 19 prizes will be handed out to Lancashire businesses.
Mr Kiely said: “Bricks and mortar are the best asset class of all in terms of investment, people understand property and the North West property market is booming.
“Investing as a shareholder means you aren’t committing to the large financial engagement of a house purchase, yet you can expect to see on average between 12-14 per cent return and monthly interest paid as well.
“Investors want to deal with people with openness and transparency, which we strive to achieve at Harewood Associates.”
The influx of BBC staff to Manchester’s Media City has fuelled a property bubble, with house prices rising faster than in any area outside London.
The average house price in Manchester rose by 21 per cent during 2013, increasing by £36,387 to £209,627, according to the Nationwide Building Society.
The National Housing Federation has reported that less than two thirds (64 per cent) of the number of new homes needed in the North West are currently being built and a gross annual income of £35,607 is needed for the average mortgage.
This is leaving people unaware as to how and where to invest smaller amounts of savings and therefore leading them to look for alternative investment opportunities to secure their future, making property investments in a third party company such as Harewood an attractive proposition.
The BIBAs will hold its prize-giving ceremony at the Blackpool Tower on Friday, September 11 in front of a sell-out crowd, with organisers confirming all tickets have been sold nearly two months before the big night.
The North and Western Lancashire Chamber of Commerce, which organises the annual prize-giving, has opened a waiting list for people still seeking to attend the ceremony.