Alan, there seems to be a panic in the Lending Markets – do the lenders know what they aredoing, and how do you see it panning out?
Very good questions, and I think almost all investors in the UK will have been affected. Any investor in the UK will have been hard pushed to haveseen such a rapid change before in financing optionsavailable to them. It has been an incredible few weeks which gives us even lessconfidence our banks and surveyors know what they are doingthan normal…! One thing I have always argued is, do not get too caught upin what a surveyor values a property as it should be adifferent value than you would give as an investor. The biggest example of where investors have suffered was allthose who bought city centre apartments based on those RICSsurveyors who a year later would often value the sameapartments at 25% less and the market value was at timeseven lower. In the UK as a buy to let investor the most importantfactors for me have always been the local affordability andthe rental demand if I can get property for around 4 timesthe local affordability and with a 6% plus yield I know Iwill do very wel
