A DARWEN councillor has issued warnings over a spate of leaflet drops asking residents to sell their homes following a rise in house prices.

Coun Roy Davies said he has received four leaflets in the last week and is concerned debt-ridden homeowners will be tempted to sell up.

But the Sudell ward councillor has reservations over the leaflets, which state the companies which have distributed the leaflets will buy homes for cash.

He said a sudden influx of people selling up and moving into rented accommodation could create a rent crisis situation in the town.

And organisations such as Twin Valley Homes would be put under immense pressures to house large numbers of people, he said.

Last year house prices in Darwen rose by 24 per cent, meaning a house worth £50,000 is now worth £62,000 attracting investors from outside the area.

The value of homes in the town is the fifth fastest rising in the country according to a Halifax survey.

Mr Davies said: "I have been receiving these leaflets left right and centre for the past week or so.

"These property investors are targeting Darwen because of the recent rise in house prices. I am concerned that older people who struggle to manage a mortgage on a pension and anyone else who is hard up will think this is too good an offer to miss out on.

"For a start if the house prices are going up the homeowner would be better staying where they are and benefiting from it themselves as the years go on and not just going for this as a quick solution.

"My main concern is organisations like Twin Valley could struggle with a sudden increase in people wanting to move into rented accommodation all at once.

"Some people wouldn't seek advice from financial advisers and just go for it especially with them offering cash. It could be a bad move.

"Another problem is that most of these investors are from out of the Darwen area.

"They don't know Darwen and won't have the area's interest on the top of their agenda's. "