Tuesday, September 30, 2008

Hhhmmmmmmmm??

Buy-to-let arrears below market average.

Statistical data released by the CML shows that the percentage of buy-to-let mortgages more than three months in arrears stands at 1.1% of all buy-to-let mortgages outstanding. This compares with a total mortgage market figure of 1.33% in arrears of three months or more. There are currently 1,103,000 buy-to-let mortgages outstanding out of a total market of 11,741,000. Source here - http://www.cml.org.uk/cml/filegrab/AP5.xls?ref=5217

Posted by renting2 @ 12:29 PM (2012 views)
Please complete the required fields.



10 thoughts on “Hhhmmmmmmmm??

  • What? This has to be wrong. Otherwise, someone tell Bradford & Bingley that being overexposed to BTL mortgages isn’t a problem after all and their 150-year-old company didn’t need to collapse at all.

    Reply
    Please complete the required fields.



  • ooh, ooh, me, me! This one’s easy!

    People who have taken out one extremely high mortgage are already unable to pay.

    BTLers have capital available from multiple properties. This means they have a backstop of funds available to cover shortfall. As the prices continue to drop the total loss will then outstrip that cushion, causing large volumes of bankruptcies and properties to come to market. It is the second-wave.

    Expect that figure to go higher!

    Reply
    Please complete the required fields.



  • Hang on a sec. So there are 1.1% 3 months in arrears. But 1,103,000 (9.39%) outstanding? So in 3 months, there will be 9.39% 3 months in arrears (unless they catch up with payments again somehow). Correct me if I’m wrong with that math…

    Reply
    Please complete the required fields.



  • I still don’t believe the figure. I am sure I’ve seen other reports showing BTL arrears 2 or 3 times higher than the national average.

    Reply
    Please complete the required fields.



  • B&B problems stem from the terrible mortgage books they purchased from GMAC more than anything to do with buy to let. They have to pay £12b over the next 3 years on the ‘deal’, these mortgages are all either sub prime or 90% self cert, they bought these mortgages in Oct/Nov last year and it has to be the most stupid purchase in banking history.

    Reply
    Please complete the required fields.



  • Sorry to disappoint you guys but BTL arrears are lower than the industry average. This is mainly because the average BTLer is richer than the average house buyer. couple just bought first house, unexpected pregnancy, one partner loses job, didnt realise that doing a house up always costs more than you think. I could go on…..

    Reply
    Please complete the required fields.



  • a ce moment peut etre mon ami.

    Reply
    Please complete the required fields.



  • Le déluge viendra plus tard

    Reply
    Please complete the required fields.



  • C’est vrai – ce n’est pas un probleme, on ne peut pas l’avoider

    Reply
    Please complete the required fields.



  • Je ne comprende pas.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>