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While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the...
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Thursday 13th December 2007
It has been suggested that people considering investing money in property need to make sure they have properly thought about the financial implications beforehand.
There is still a market for investors looking to move into buy-to-let but it is vital that they make sure any investment makes financial sense, according to Neil Johnson, PR and policy manager at the Building Societies Association (BSA).
"There is still a market out there for it, but clearly if you are not careful you are going to get your fingers burnt," he explained.
Mr Johnson added: "The important thing to do is to take account of all the other costs too, rather than just looking at the mortgage coming out."
Rob Thomas, senior policy adviser at the Council of Mortgage Lenders (CML), said recently at the Mortgage Business Expo that he expected the market to remain stable in 2008.
A recent report from the Royal Institution of Chartered Surveyors (Rics) suggested that the buy-to-let market was now only accessible to "the wealthy", but if price inflation begins to slow that could soon change to allow more people back into the sector.
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