Thursday, June 7, 2012
Would you Adam and Eve it ?
The buy-to-let sector has been given a reprieve after a committee scrutinising the European Commissionâ€™s mortgage credit directive voted to allow the UK to exclude these types of loans from the new rules. Buy-to-let experts have warned that the sector would be stifled it were captured by the proposals, which say lenders must take into account affordability when they advance a home loan. They argue buy-to-let loans are fundamentally different as landlords use rental income to meet the monthly repayments in most cases.