Tuesday, Mar 18, 2008
Prime BTL, scum of the earth, thou shall receive no credit
MortgageBusiness: Mortgages Plc to withdraw from BTL market
“We have seen both an increase in the number of new buy to let applications and a deterioration in credit quality, as other lenders have tightened criteria and pulled out of the market. “Given the continuing difficulties in the capital markets, we have decided to pull out of the prime buy to let market for the time being and focus our resources on residential lending. However, we will continue to monitor developments carefully and, as when the mortgage market starts to return to normal, we will review our position with regard to prime buy to let lending.”
Posted by confused76 @ 11:21 PM (187 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Btl Must Have said...
Try searching for a BTL mortgage on moneysupermarket - took a 50% deposit to get mortgage available and then only 3 products from companies I've never heard off. Humm - so many have pulled the BTL mortgages.
I also remember back in the late 80's / early ninties those yuppie London Docklands flats being used as social housing for the unemployed.
Wasn't this also the Labour party suggest they did not want to return to the boom and bust days of the Thatcher era.