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Buy-to-let mortgages safe

Date: 1 March 2005

Buy-to-let mortgage are safe from property investment funds (PIFs), according to a new report.

PIFs, which are based on American real estate investment trusts (REITs), are expected to prove an attractive proposition for existing property companies.

There had been concern however that these funds would represent competition for buy-to-let mortgages.

However, a report from the Council of Mortgage Lenders (CML) said PIFS would help plug gaps in the property market, offering diversification and having only a limited impact on the private rental market.

REITs in the US focus mainly on commercial property.

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