Friday, Aug 07, 2009
Opinion differs on buy to let
Times online: Is it the end for buy-to-let?
In this market, many investors have found their ambitions curbed. Brian Murphy, head of funding at the Mortgage Advice Bureau, a broker, says: “The amateur landlords who fuelled the buy-to-let boom have all but disappeared.” And even those with substantial portfolios — who at first were unaffected by more stringent lending rules — are finding that banks and building societies are reluctant to lend to investors with too many commitments.
Gary Murphy, the auctioneer at Allsop, agrees: “It is a buyers’ market and those investors with cash are taking advantage of it.”
Posted by tim miller @ 12:19 AM (589 views) Add Comment
5 Comments
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1. peter_2008 said...
It is deeply disturbing that the words "low trake mortgage rate" keeps coming up in each BTL case. It was supposed to help FTB. But no, BTL get all the benefits instead.
Never in history of Britain, a governement has so openly encouraged and helped the riches to rob off the poors.
2. wiltshire said...
Anyone got any updates on how Fergus & Mrs Wilson are getting on in Kent these days? They were going to start liquidating in March weren't they?
3. andrew said...
Not much of a business plan, "If interest rates go up then I will have to sell", what do you do then, hardly a sustainable income.
We can only hope.
The maths still does not add up, unless you have a significant deposit, sounds like more VI ramping and self congratulating.
4. 51ck-6-51x said...
RE: James C's comment, "I don't see my greengrocer as an evil person, distorting the price of lettuce to the detriment of his customers. My greengrocer rightly pays tax on the profit he makes, but after the cost of buying the lettuce - that just makes sense."
- Do Greengrocers gear up as much as BTLers? I don't think the analogy works really. Anyone else?
BTW I posted...
PLEASE CLICK RECOMMEND IF YOU AGREE.
:) :D :)
5. vacuouspolitician said...
Gary Murphy, the auctioneer at Allsop, agrees: “It is a buyers’ market and those investors with cash are taking advantage of it.”
Hmmmm...I wonder if this is a shameless plug by that auction company for all those with cash squirreled away to buy into those "low" prices now available...! Come on lets get the party started again...we know yer out there...