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Property liquidity issues were not recognised

The vast majority of advisers believe investors did not understand all the liquidity issues over property funds before the current market downturn.

Eighty-seven per cent say the issues were not understood while 13 per cent say investors understood all the issues. Sixty-nine per cent believe the FTSE will close lower at the end of the year compared with the start of the year, with 16 per cent believing it will be higher.

Forty-seven per cent say the credit crunch has made it more difficult for them to find a mortgage for clients with specialist borrowing needs such as sub-prime and self-cert.

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