Buy-to-let considered a long-term investment, not fly-to-let says Mortgages for Business
The BBC’s Money Programme, broadcast Wednesday 13 October (7.30 BBC 2), highlighted a worrying trend with investors seemingly desperate to get in on the buy-to-let phenomenon. The programme also showed an increasing number of property seminars proclaiming to turn punters into property millionaires with little or no outlay.
David Whittaker, managing director at Mortgages for Business says, “Like all investment opportunities, investors should be cautious of schemes offering to make millionaires with little or no outlay or effort. The foundations of the buy-to-let market remain extremely solid as long as investors take the sensible view of buy-to-let being a long term investment based on capital growth and not representing an opportunity to make quick buck.”
“Anyone who believes that buy-to-let will provide them with an alternative to hard work and a life of leisure may find themselves in for a nasty shock,” he adds.