Property News · April 22, 2017

Buy-to-let slump puts first-time buyers in the driver’s seat


Lenders report 42% fall in loans to landlords as tax changes begin to biteBuy-to-let landlords are finally in retreat in the housing market, leaving young adults in a better position to buy a property, according to the latest data from mortgage lenders.The Council of Mortgage Lenders said lending in March was £21.4bn, down 19% on the year before, almost entirely due to landlords withdrawing from the market. A double whammy of tighter Bank of England lending rules, which have forced banks and building societies to insist on greater rental cover and higher deposits, plus new taxes on rental income, has made buy-to-let far less financially attractive. Continue reading…

Source : theguardian.com
Read more…Buy-to-let slump puts first-time buyers in the driver’s seat

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