30 September 2008

Buy to Let Mortgage product choice obliterated

The concept that that there are significantly fewer repossessions from buy to lets compared to residential mortgages needs to be examined again as I suspect that it is no longer the case.

The buy to let product choice has been obliterated as nearly 90% of the buy to let products have been stripped out of the UK market. The residential market has also been hit hard losing 60% of its products in a 24-hour period.It appears that lenders have little to non-existent appetite to lend and it will take a while for stability in the market to return.

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