Thursday, September 25, 2008
There is no safety net to rescue buy-to-let landlords who can no longer meet their mortgage interest
News coming out of the auction houses indicating that house prices still have further to fall and mortgage lenders will have to be much more realistic about the price they can expect to get for repossessed properties. Moreover buy-to-let investors who think they can just walk away from investments which are now in negative equity and worth less than the value of the mortgage will have to think again. The lenders will pursue them.