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BTL Mortgages now 12.4% of all mortgages and safer bet
julieq
Posts: 2,603 Forumite
The shift towards concentration of property ownership towards investors continues. From the BBC website:
Figures also released show that demand for buy-to-let mortgages continues to grow.
The CML said the number of buy-to-let mortgages rose by 29,000 in the second quarter of the year, to 1,342,200.
They now account for 12.4% of all mortgages, the highest proportion on record since the buy-to-let market took off at the end of the 1990s.
Arrears among buy-to-let mortgage holders continue to fall.
They reached a peak at the start of 2009 with just over 3% of all buy-to-let mortgages more than three months in arrears, but that figure is now down to 1.57%.
The CML said this meant that arrears rates for buy-to-let mortgages were now lower than in the owner-occupied sector, for the first time since 2008.
Figures also released show that demand for buy-to-let mortgages continues to grow.
The CML said the number of buy-to-let mortgages rose by 29,000 in the second quarter of the year, to 1,342,200.
They now account for 12.4% of all mortgages, the highest proportion on record since the buy-to-let market took off at the end of the 1990s.
Arrears among buy-to-let mortgage holders continue to fall.
They reached a peak at the start of 2009 with just over 3% of all buy-to-let mortgages more than three months in arrears, but that figure is now down to 1.57%.
The CML said this meant that arrears rates for buy-to-let mortgages were now lower than in the owner-occupied sector, for the first time since 2008.
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Comments
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Woohoo!!!!!0
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The inevitable consequence of mortgage rationing.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Build more houses. The only solution to supply/demand shortfall.0
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They now account for 12.4% of all mortgages, the highest proportion on record
Whats 12.4% of !!!! all again?0 -
HAMISH_MCTAVISH wrote: »The inevitable consequence of mortgage rationing.
But it's a good thing right? Landlords are buying houses so pushing up prices.0 -
The inevitable consequence of FSA regulation that punishes the many to save a few. I know it's boring, but always have in mind less than 1% of owners have been repo'd in modern times. Why penalise millions of hitherto perfectly capable adults? Nanny knows best.0
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PS - A good many B2L mortgages are in fact residential in disguise, wink wink. Another inevitable consequence of classic leftist over regulation.0
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On forums such as this I well remember poster after poster claiming BTL operators would be wiped out. In reality their businesses are positively thriving.
Some just refuse to accept the laws of supply and demand.If I don't reply to your post,
you're probably on my ignore list.0
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