Monday, Sep 21, 2009

BTLers heading for exit = lower prices

Telegraph: Buy-to-let landlords 'finding it tougher to secure mortgages'

"Around 89pc of investors who tried to take out a mortgage on a buy-to-let property during the three months to the end of August said it was more difficult to get finance than during the previous three months." Tougher credit terms and a likely fall in property prices should put the brakes on the speculators. Ergh, oops, I meant business investors.

Posted by quiet guy @ 10:49 PM (732 views)
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1. paul said...

Is there no taxpayers' money that can be used to support these peoples' rights to secure rentier wealth for themselves?

Monday, September 21, 2009 11:19PM Report Comment

2. phdinbubbles said...

"He said buy-to-let lending levels had slumped, and warned that there was a real danger the private rented sector could start to contract, particularly if so-called accidental landlords began to sell their homes now that the housing market was picking up."

And then when the professional(sic) BTLers start to see prices fall again (and realise they were duped into buying(sic) into a crap business with dodgy tenants that don't pay and houses that need repairing, etc), they will want to get out very quickly with a bit of luck.

As confused76 would say:

Tuesday, September 22, 2009 08:10AM Report Comment

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