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Property millionaire makers no more

Dreams of building a property investment so large that you could become a millionaire nearly instantly are vanishing. The company that promised that an investor could simply, "give up work and be a property millionaire instead" is going out of business. The company, called Inside Track, charged potential investors some £2,500 a person to attend a weekend long investment seminar that promised to teach them how to build a buy to let empire, is closing its doors due to the lack of interested persons.

The company is known for its large stake in the market, where it has encouraged small time investors to pour some £2.5 billion into the buy to let properties. In fact, at their peak it was believed that the company, with its parent company Instant Access Properties, had a large stake in the property investments throughout the UK with figures pointing to them owning a stake in one out of ten new build apartment purchases across the country.

Investors in the buy to let market are facing many tough obstacles going forward. According to the Royal Institution of Chartered Surveyors, lenders are less likely to provide such types of loans for fear of the market. New requirements in place require more money down on purchases, which has stopped some newer investors to be comfortable with lending.

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