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01st December 2011

CALL us first before you buy-to-let, otherwise you may get your fingers burnt.

That’s the advice from Farnham lettings specialists, Martin & Co, as investors increasingly look to property because of falling back house prices and the continued uncertainty in the financial markets.

Richard Neale said more and more people were investing in property as a safer bet. With a downturn in house prices reported over the last 3 months by the UK’s lending houses and their projection that this trend will continue for the coming months, investing in the residential property market will provide you with a monthly income, with yields of approx. 5-7% and in the slightly longer term, good capital growth as the property market turns back.

But he warned, many investors fail to seek the right advice and information at the outset. “A lot of would-be investors go to see their solicitor, financial adviser or even an estate agent first and that’s often how they end up disappointed and with the wrong property.” he added.

Whether a first time investor or developing an existing property portfolio the first port of call should be a reputable lettings agent who will be able to advise on what type of property to buy, where to buy it and how much to pay. This approach makes complete sense because, after all, it is the lettings agent who will know which properties are in greatest demand and the sort of return an investor can expect. The agent will be able to help people make the most of their investment and equally importantly, minimise risk.

Richard added some properties were difficult to let while others always ‘fly out of the door,’ including 1 and 2 bedroom flats and houses. These particular types of property are in short supply at present. “There is a huge demand for rented accommodation in the Farnham area which we cannot fully meet and we are very keen to hear from anyone who may be thinking of letting an existing property or buying a new property to let.”

Martin & Co in Farnham can be contacted on 01252 735338 or farnham@martinco.com.