Tuesday, February 17, 2009
BTL lending now needs propping up
The Intermediary Mortgage Lenders Association has warned that buy-to-let lenders will not be able to cope with demand unless they are able to access government support. An IMLA survey of 506 mortgage brokers carried out in December found that eight out of ten first-time buyers unable to secure a mortgage through their broker were choosing to rent instead. Brokers expect business levels to drop in all sectors but are predicting that buy-to-let will be particularly hard hit.