Plenty of 'cheap property opportunities' for landlords in 2008
Published: 02-Jan-2008
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Buy-to-let landlords could be set to benefit from an increased availability of cheap property to add to their portfolios this year, according to a mortgage expert.
Lee Grandin, managing director of Landlord Mortgages, told BBC Radio Five Live's Wake Up To Money programme that a fall in house prices could lead to significantly increased interest in the buy-to-let sector.
However, he warned that landlords should avoid being convinced that a new buy-to-let property will reap guaranteed benefits.
At the same time many existing landlords have steered clear of adding to their portfolios in recent years as property prices have sky-rocketed.
"If we were to look at a most dangerous point in time, it's investment in the last two years, in assets where you haven't added any value," he told the broadcaster.
According to figures recently published by Bradford and Bingley, the average size of a landlord's portfolio is now 6.1 properties, compared to 5.7 six months ago.
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