Recent research conducted by property specialists movewithus has revealed that over half (51%) of the estate agents surveyed believe that the buy-to-let market should be regulated by the Financial Services Authority, soon to be the Consumer Protection and Markets Authority.
The survey questioned over 200 leading estate agents across the UK and revealed the following results:
Should the Buy-to-Let market be regulated by the FSA?
• Yes: 51%
• No: 49%
Robin King, movewithus director, said: “If the advice given to buy-to-let investors had been regulated by a body, such as the FSA, we might have seen better investment advice and far fewer casualties when things went wrong in this sector. Buy-to-let is still a vulnerable market because of the type of properties being bought and so it is interesting to see that a significant proportion of estate agents themselves would like to see the sector regulated.”
