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Inside Track enters administration

Property investment firm Inside Track has been put into administration with effect from yesterday.

This was confirmed by a message on the company’s answer phone which blames difficult market conditions.

The firm had axed its buy to let property seminars in March in the wake of market conditions.

Vantis managing director Jeremy French and director Glyn Mummery have been appointed joint administrators.

National Landlords Association chairman David Salusbury says: “Inside Track promised to make the UK a country of property millionaires. However, there is a real danger in encouraging such massive speculative investment in residential accommodation. Investors in residential property should be focused on the provision of affordable and decent homes over a much longer period of time and not just capital growth.”

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