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News: Blundering landlords investing dangerously

Mon, 04 Aug 08

Over half of buy-to-let investors (53%) in the UK do not use an adviser, intermediary or broker to help guide their investment leaving them in danger of making costly mistakes, wasting time and missing out on better deals...

The findings are part of independent research commissioned by The Money Centre, one of the UK’s largest independent buy-to-let mortgage brokers, which also reveals that landlords who do use a an adviser, intermediary or broker are saved both time and money, through both initial and ongoing advice.

45% said that one of these third parties arranges the buy-to-let mortgage with the lender; 47% that they provide advice on lenders for new properties; 38% that they draw attention to new deals; and 32% that they ensure the mortgage is continually best value.

Minefield

Now The Money Centre is urging existing landlords and anyone considering entering the market to take professional guidance. Investing in property is a big decision and the property market can be a minefield for those who do not know what they are doing.

There are excellent opportunities to reap rewards from property but with recent uncertainty in the market and a series of interest rate changes it is vital that investors do their homework and have a realistic approach to property.

Lynsey Sweales, marketing and PR director of The Money Centre commented:  “Decisions over your finances shouldn’t be taken lightly, so we always recommend potential and existing landlords take their time to research and plan their approach to property investment. Having a solid strategy and clear end goal is important in making the most of your investments.”

See also: Home.co.uk: Buy-To-Let Mortgages

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