Monday, February 13, 2017
BTL snowball gains momentum
Buy to let lending plunges at Nationwide as market cools
A drop from 2.2billion to 900 million. Debt deflation awaits....
Posted by pete green @ 03:09 PM (7597 views)
5 thoughts on “BTL snowball gains momentum”
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britishblue says:
I like the phrase, ‘We have seen the buy to let market cool, to some degree,†he said.
By my reckoning a 900 million drop from 2.2billion is a decline of 41%. I suspect the month on month declines are now larger as these things always take time to trickle through.
icarus says:
To be fair the quote is about the market as a whole while the figures are for Nationwide only. NW provides only one in seven BTL loans and it has been severely tightening its BTL lending criteria in the past year. Details are devils.
mombers says:
I wonder how much corporate BTL has picked up? A little less terrible than amateur BTL and a much easier target for first world regulation
libertas says:
My my measure, now would be the time to plough into Buy to Let. No seriously, this is a sudden collapse and that is the best time to get into a market, just after it has collapsed. This will precipitate a big rise in rents. Not sure First Time Buyers will plug the gap, but in London, those fleeing EU may plug it.
mombers says:
@4 The missing homes conundrum. Rents will rise because why? I’m not seeing despairing landlords knocking their BTLs down, they are selling them to owner occupiers or other landlords.