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Beware pitfalls of buy-to-let, survey shows

Buy-to-let purchasers should avoid buying a property that will need a lot of maintenance, according to a survey of existing buy-to-let customers by Birmingham Midshires.

The survey showed that 43 per cent of respondents recommended making a thorough investigation of all aspects of letting before buying a property, 23 per cent recommended buying a property that does not need a lot of maintenance, and 8 per cent suggested getting the advice of an estate agent who specialises in letting properties.

Birmingham Midshires head of mortgage marketing Michael Bolton says: “Buying a property to let can yield considerable rewards as a long-term investment but, as this survey shows, it is vital that any potential private landlords do their research properly first.”

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