Saturday, October 4, 2008
“A lack of buy-to-let products will dampen the housing market” + “the end of self-cert in the UK”
Mortgage brokers have raised concerns over the future placing of Bradford & Bingley's buy-to-let customers and fear that a funding drought will affect the whole market. The Government has confirmed that it will be running down the B&B and Mortgage Express books, much like in the case of Northern Rock.This week, The Mortgage Works pulled its entire range temporarily in reaction to unprecedented demand. HBOS also withdrew much of its range temporarily.Moneyfacts has revealed that the number of buy-to-let products dropped from 662 to 481in the first two working days of this week.