Tuesday, Feb 26, 2008
Increase in Buy to Let Lending - and spin
FT: Buy-to-let lending up in 2007
"Michael Coogan, CML director general, commented: "Tenant demand for private rented property remains strong and buy-to-let is fulfilling an important role in helping to deliver an increased flow of high quality homes to rent. " - Waffle. what's the high quality bit got to do with it? Some are bogging.
"The proportion of buy-to-let mortgages taken into possession was also smaller than in the wider market" - Only just, so far & the trend is massively up.
"We expect to see a continuing healthy appetite for buy-to-let finance this year, in line with continuing expected consumer demand for private rental property." - only from naive investors with deep pockets. Risky - Rent will barely cover costs, no cushion for contingencies and why buy a capital asset at the top of the market?
3 Comments
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1. paul said...
Last year's news ...
2. hpwatcher said...
''and buy-to-let is fulfilling an important role in helping......'' to perpetuate a bubble in house prices.
I hope it bursts, along with the greedy CML's DG.
3. happyrenterz said...
As long as it is profitable these locusts will keep gobbling up the houses. They should be taxed more.