Friday, Nov 21, 2008
BTL (Buy-To-Lose)
MailOnline: Number of landlords falling behind on mortgage repayments soars by 50% as buy-to-let boom turns to nightmare
Soaring numbers of buy-to-let investors have not paid a penny of their mortgage and face losing their property, official figures revealed today.
The worst economic meltdown since the First World War has triggered a nightmare for the army of people with one of Britain's 1.1million buy-to-let loans
Posted by v stor @ 06:43 PM (482 views) Add Comment
2 Comments
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1. quiet guy said...
It's quite a strange article that starts by describing the problems facing BTLers then switches the topic:
"In a direct plea, CML director general Michael Coogan attacked the amount of help currently available to struggling homeowners as 'far too limited.'
Between July and September, 11,300 homeowners were evicted, although experts warned yesterday the real figure is even higher."
The rest of the article discusses families lsoing their homes instead of BTL speculators. Either a very poor or very cynical bit of journalism and the plight of renters being evicted because their landlords have gone bust doesn't get a mention.
2. planning4acrash said...
This is rather incredible. As I've said before tho, British people as a whole have been robbed, because, these houses, or the land the flats were built on, was often in private, British ownership, but will now be owned by banks, and government once the banks are nationalised. Total theft and heist. A public-private land grab, or, if you will, fascism.
So, land grab and fascism are the real story behind buy to let. It was never about buying or letting.