Wednesday, February 27, 2008

Cml Needs To Put Champagne On Ice In Relation To Buy To Let Mortgage Numbers Reaching The Million Mark

First time buyers priced out due to buy to let investors no reason for CML celebrations - Firstrung

As the CML proudly announced yesterday that the total buy to let mortgage number had finally passed through the one million mark Firstrung condemned firstly the insensitivity of this proclamation and secondly stated their position that (in their considered opinion) this figure actually represents one million less buying opportunities for first time buyers...

Posted by converted lurker @ 02:37 PM (1082 views)
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5 thoughts on “Cml Needs To Put Champagne On Ice In Relation To Buy To Let Mortgage Numbers Reaching The Million Mark

  • I agree. do not see any reason to celebrate.
    as the btl number increases versus the same residential demand, that means btl yields will be reduced
    and the risk of a bubble meltdown increase

    in fact we should celebrate that the number of people affected by the bubble is so large

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  • The CML are a shower if this is typical of their attitude. To boast over what is something of a mania at this stage is fatuous and unprofessional. I imagine they will fall silent in due course.

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  • It’s a disgrace.

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  • BtL has come from very low figures to a million mortgages! Wow.

    The dynamics of the housing market have changed a lot in 7 or 8 years. I supposed it has also changed the investment market, too!

    As Lethemfall says, BtL has turned into a mania, perhaps on the back of a lack of trust in the government and a desire to manage our own pensions & savings. Gordo is using an artificially low inflation figure (to pin down public sector pay settlements) and investors want to put their cash into something more tangible. So bubbles get created.

    Will the next bubble could be in alternative energy stocks or precious metals?

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