Friday, Aug 18, 2006

BTL lemmings go bonkers

Home.co.uk News: Landlord lending leaps to record levels

Buy-to-let borrowing set new records in the first half of the year, with lenders advancing 152,500 loans, worth 17.5 billion. Incredible!!

Posted by tinecu @ 09:44 AM (948 views)
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4 Comments

1. kpjcomp said...

>Typical underwriting criteria in the buy-to-let market remained unchanged, with an average maximum loan-to-value ratio of 85%
>and lenders requiring rental income to exceed mortgage repayments by at least 25%.

Interesting!!, I'm currently renting and I'm certainly not paying 25% above mortgage repayments and that's even if he had put down a massive deposit. Maybe I'm lucky!!. And even better still the interest I'm making on selling my house pays for 70% of my rent.

So come on you Dumb BTL'ers, lets get another 30% knocked of my rent so I can have a No cost housing life.!!!

Friday, August 18, 2006 12:58PM Report Comment
 

2. markd said...

No doubt Phil and Kirsty have a lot to do with this, given their ludicrous programme earlier in the year giving wild and unsubstantiated estimates of future price growth!

Friday, August 18, 2006 02:42PM Report Comment
 

3. This comment has been removed as it was found to be in breach of our Blog Policies.

 

4. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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