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Mortgages - Property 'remains a good investment' - 12/03/2008

  
 
  Property remains a good long-term investment despite worries about the economy and the ripple effects of the credit crunch.

That was the view of property experts taking part in a panel discussion at the Homebuyer and Property Investor Show last week.

The consensus appeared to be that while market conditions had tightened those in it for the long-haul could still extract value.

"It has become a lot more difficult to get mortgages for buy-to-let investors," said David Austin of property consultancy Property For Life. "I'm still very positive about the buy-to-let market."

Seamus Nugent of the property development firm, Dandara, suggested that the rental market in Britain was growing, which would be good news for landlords who were in it for the long-haul.

"Property investment is a long-term punt, not a short-term gamble," he noted. "This country is slowly following the model of the continent, where 30 to 40 per cent of people are in rented accommodation."

Research has shown that buy-to-let mortgages are now harder to obtain, with lenders charging higher rates and asking for larger deposits.
 
     
 
 
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