Friday, Aug 18, 2006
BTL lemmings go bonkers
Home.co.uk News: Landlord lending leaps to record levels
Buy-to-let borrowing set new records in the first half of the year, with lenders advancing 152,500 loans, worth £17.5 billion. Incredible!!
Posted by tinecu @ 09:44 AM (283 views) Add Comment
2 Comments
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1. kpjcomp said...
>Typical underwriting criteria in the buy-to-let market remained unchanged, with an average maximum loan-to-value ratio of 85%
>and lenders requiring rental income to exceed mortgage repayments by at least 25%.
Interesting!!, I'm currently renting and I'm certainly not paying 25% above mortgage repayments and that's even if he had put down a massive deposit. Maybe I'm lucky!!. And even better still the interest I'm making on selling my house pays for 70% of my rent.
So come on you Dumb BTL'ers, lets get another 30% knocked of my rent so I can have a No cost housing life.!!!
2. markd said...
No doubt Phil and Kirsty have a lot to do with this, given their ludicrous programme earlier in the year giving wild and unsubstantiated estimates of future price growth!