Sunday, June 8, 2008

goodybe Mr & Mrs buy to let

Lenders pull the plug on buy-to-lets

BRITAIN’S army of buy-to-let landlords are experiencing a repayment shock more severe than the one faced by other borrowers, as lenders raise rates in response to growing evidence of arrears in the sector.

Posted by doomwatch @ 05:52 PM (899 views)
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3 thoughts on “goodybe Mr & Mrs buy to let

  • the housing market is going to hell in a subprime handbasket …

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  • it_is_going_with_a_bang says:

    “Lenders are now demanding that rental income covers up to 130% of repayments”

    I can’t see too many landlords able to show those sort of figures. There have been plenty that think its ‘ok’ to make no money and rely on capital gain for the profit.
    The tips are a joke. If the landlord didnt know any of that already why are they doing it anyway???

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  • “Ginige said: ‘I think it is completely unfair that my lender has changed its criteria in the past two years – this has caused a huge jump in my monthly repayments.’ ”

    Aw! That’s a bit of a bummer. Better sell up, then. (Muppet.)

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