Saturday, February 21, 2009
Bash a BTLer
The number of buy-to-let landlords unable to keep up payments on their mortgages more than doubled during the second half of last year, hitting record highs of almost 27,000. Meanwhile, the number of repossessions of privately owned homes rose by 55%. The number of landlords who are three months or more behind on their mortgage payments rose by 257 per cent between the end of 2007 and the end of 2008, as landlords failed to secure the rents they needed to meet their loan payments. New lending in the buy-to-let sector has also plummeted, falling by 56 per cent in the final quarter of last year.