Buy-to-let investors move fast says survey

Posted: 17 Oct 2006 12:35:58 GMT

Buy-to-let investors tend to move fast when they have a good feeling about a property, says new research – and in some cases alarmingly so

Buy-to-let investors tend to move fast when they have a good feeling about a property, says new research – and in some cases alarmingly so.

Almost 40 per cent of landlords said that they decided to buy their last property within hours of viewing and half of these made their decision while being shown around.

A rash four per cent said that they came to their decision without even viewing the property, said the study for mortgage broker John Charcol.

More than half, or 56 per cent, invested within ten miles of their home, while 85 per cent said that location was the key to successful investment.

"For any property buyer, location is a crucial factor as it dictates value, rentability and saleability," said Ray Boulger of John Charcol.

"For most landlords this not only means considering tenants' expectations in terms of proximity to local amenities and transport links but also sticking to what they know best – the local market - and then buying close to home.

"Having rental properties near your home can be practical as being on hand to manage their properties could mean cutting costs on managing agents."

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