27 Oct

Flats a 'safer buy-to-let choice'

Flats a 'safer buy-to-let choice'

Those looking to enter the buy-to-let market should look at flats for sale in Plymouth and other areas, according to one expert.

Lee Grandin, director of broker Landlord Mortgages, claims that because they are at the lower end of the market, flats are a better option than houses when it comes to entering the industry.

He believes that this is "what letting is all about" as it is highly unlikely that there will be a sudden increase in demand for large, four-bedroom properties.

However, he suggests that there will always be people wanting to rent one or two-bedroom flats.

Mr Grandin's comments come after a recent Royal Institution of Chartered Surveyors report suggested that there has been a decline in the demand for buy-to-let flats.

He thinks this is because "the lenders have got significantly burnt lending on over-priced new build properties, which happen to be flats".

The report found that interest in rental flats fell by 15 per cent in the three months to September 2009.ADNFCR-1222-ID-19428569-ADNFCR

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