Summary
A new wave of 'creative financing' schemes, targeted at novice buy-to-let investors, are returning to the market - with potentially dangerous consequences, warns leading property lettings specialist, Belvoir, which has offices in Cheltenham and Gloucester. Advertisements and seminars enticing people to look at ways to buy a property for rental, without the need for a cash deposit, need to be viewed with extreme caution and not even contemplated without some basic research and checks. Because investment in buy-to-let is unregulated in the UK, the Latin phrase 'caveat emptor' - "Let the Buyer Beware" is a very clear warning to anyone wanting to explore the current wave of popularity in buy-to-let investment.
Many of the zero-deposit property buying clubs and groups which grew rapidly and then disappeared during the housing market slowdown in 2008 are creeping back, and some of them have no morals, says Belvoir. A substantial number went into receivership, with their directors fleeing overseas to avoid claims and litigation - leaving a trail of disaster.See the full content of this document
Extract
Novice Buyers Warned of 'Creative' Offers
Such operators made large margins by claiming to source below market value (BM...
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