Saturday, Nov 15, 2008
Poor BTLers :(
Citwire: Buy to Let landlords face new competition
Buy to let landlords face increasing competition from developers who are unable to sell their new build properties and so are renting out brand new apartments and houses.
This increases the amount of properties available to rent at a time when demand from tenants in some areas is likely to fall as unemployment takes a grip and pay increases become a thing of the past.
Meanwhile, BTLers continue to be squeezed by the shortage of mortgages. ‘It's about time lenders started to play ball and pass the rate cuts on to landlords,’ said Simon Gordon of the National Landlords Association. ‘Part and parcel of the government bailout was the requirement for lenders to start lending to consumers. It's critical for the health of the property market for landlords to have access to mortgage finance"
3 Comments
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1. Renting2 said...
The 'health' of the property market is fat and bloated at the moment. A good dose of austerity will get it down to proper proportions.
2. quiet guy said...
"It's critical for the health of the property market for landlords to have access to mortgage finance"
ROFL. Poor BTLer souls. They need cheap money and are entitled to cheap money so that they can keep speculating on property get-rich-quick schemes. That's only fair isn't it?
3. matt_the_hat said...
If I had enough money I'd buy ever BTL investor a drink. They kept me off the property market and free (of debt). I now have full mobility to sell my labour to the highest bidder. Those left in this turd of an island can boast about how much their houses are worth but its when they realise that it won't even buy a loaf of bread that the game will be up. Recovery will only happen when the masses work in real and not nominal terms.