20 Apr

Price alone 'not the key in buy-to-let'

Price alone 'not the key in buy-to-let'

Those keen on buy-to-let should not just consider price when making an investment, an expert has suggested.

Manager at buy-to-let mortgages firm Clarity Commercial, Chris Jenkins, said a number of other aspects should be considered when deciding where and how to buy, including the rental potential and the availability of finance.

He added: "Buy-to-let properties are an excellent long-term investment provided that the investor buys correctly."

To avoid the wrong sort of investment requires "due diligence" and a refusal to believe that "all buy-to-let property" offers a good prospect, with Mr Jenkins noting that this error has hurt many buying city centre apartments.

The Association of Residential Lettings Agents (Arla) revealed last month that during the first quarter of 2009 landlords were buying more properties than they were selling for the first time in two years.

Arla director of operations Ian Potter commented that the trend was a vindication of the view that buy-to-let is a "viable long-term investment vehicle."

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