13 Dec

Property investors urged to check their finances

Property investors urged to check their finances

Property investors in the UK have been urged to do their sums before entering into the market at present.

It has recently been claimed that only the wealthy can now afford to get into the UK buy to let market because prices are sop expensive, however this view has been challenged by one industry expert.

Neil Johnson, PR and policy manager at the Building Societies Association (BSA) argues that there is still a market for investors considering moving into the UK buy to let sector, but anyone planning to do so does need to plan their investments carefully.

He said: "People should make sure before they go out and buy that they have done their sums and they know that what they are buying makes sense. There is still a market out there for it, but clearly if you are not careful you are going to get your fingers burnt."

Rob Thomas, senior policy adviser at the Council of Mortgage Lenders (CML), has recently suggested that the buy to Let market will remain stable in 2008, despite some suggestions of a slowdown.

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