A 10-year investment plan from Abbey and Knight Frank has just launched to let investors dabble in the UK residential property market without all the risks associated with buying a property as an investment.

The is based on the progress over 10 years of the Halifax House Price Index, and promises to deliver 200% of any growth on the index at maturity.

Customers can invest anything between £3000 and £500,000 in the scheme, which remains open until November 4, unless all the options sell out first.

?We wanted to offer customers a product where not only could they invest a smaller amount, but which also did not expose them to regional fluctuations, voids, difficult tenants, maintenance costs and everything else,? explains Mike Brown from Abbey Financial Markets.

The Plan has a ten year life, and unless it ends early those who may want their investment returned before the ten years are up are being advised this will not be possible but if house prices do not rise, the plan promises to refund the original investment.

Robert Hannington, Chairman of Knight Frank Corporate Finance Ltd, said: ?Knight Frank has substantial knowledge of UK residential property and carries out continuous in-depth research on the market. Many investors are looking to include residential property in their portfolios and we feel that with a product designed to protect their capital, they will be able to do so for a relatively low initial investment.?

Michael Fiddes from Strutt and Parker says he has little doubt that these new funds based on residential property will be popular, but will mostly affect the buy-to-let market in coming years.

He also advised people to think carefully before getting carried away with a new idea: ?This is one of what will be many new products of this ilk, and it seems to be something which many people would be keen on, particularly if they have seen their pension, or something similar, underperforming of late.

?However, although over the past ten years the property market has performed extremely well one can never say what will happen in the future. Like any investment, get sound financial advice, and think hard,? were his words to any potential takers.

For more information, please visit www.knightfrank.com or www.abbey.com.