Landlords 'should be cautious to succeed'
Landlords can successfully take on the buy-to-let market as long as they proceed with caution, it has been claimed.
Tom Entwistle, editor at LandlordZONE, said it did not surprise him that many property professionals were being cautious in the current economic climate.
And he added many landlords were finding they were unable to invest due to current mortgage market restrictions.
However, he stated: "Property is still one of the best options when you look at where to invest your money for the future and given the strength of the private residential lettings market in the UK landlords will continue to build their portfolios."
When choosing what property to invest in, Mr Entwistle advised terraced homes have a number of advantages, as they are well built and inexpensive to maintain.
He added such property was ideally suited to professional singles of couples, who were likely to create the least amount of wear and tear.
His comments were echoed in recent research by Paragon Mortgages, which found 65 per cent of landlords hope to buy a terraced property in the first three months of 2010.
Britons may find such property to rent in Fulham or another part of London is far more affordable than similar homes to buy in the same area.
Written by Charles Mackay
Published 22nd January, 2010
© 2010 Estates IT Limited
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