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BTL Mortgages now 12.4% of all mortgages and safer bet

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Comments

  • ultrawomble
    ultrawomble Posts: 492 Forumite
    IronWolf wrote: »
    Good news for renters. More rental properties = more competition.

    Good news for second hand furniture dealers also.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    IronWolf wrote: »
    Good news for renters. More rental properties = more competition.

    Not when the number of renters is growing faster than the number of rental properties.

    Hence rents at new record highs. :)
    “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”
  • crash123
    crash123 Posts: 399 Forumite
    Conrad wrote: »
    PS - A good many B2L mortgages are in fact residential in disguise, wink wink. Another inevitable consequence of classic leftist over regulation.

    This is correct- liar loans all over again. Also the majority of B2L mortgages are interest only.
  • kabayiri
    kabayiri Posts: 22,740 Forumite
    Part of the Furniture 10,000 Posts
    Conrad wrote: »
    This is a fantasy julieq. Building the M25 did not reduce traffic, more infrastruture and supply begetts more demand, and on and on. We already have no wilderness.

    No wilderness? You Londoners, always having a giraffe. Plenty of greenspace in London too.

    After the Olympics there will be a new village for you BTLers to snap up :)
  • geneer
    geneer Posts: 4,220 Forumite
    julieq wrote: »
    That would be 1,342,200 mortgages, as the article explains.

    See, it's proved, bears can't read articles :/

    :rotfl:And how many mortgages was it in 2007?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    HAMISH_MCTAVISH wrote: »
    The inevitable consequence of mortgage rationing.

    No. Banks improving margins by refusing consent to let to borrowers. Thereby forcing them onto commercial lending rates.
  • geneer
    geneer Posts: 4,220 Forumite
    robmatic wrote: »
    'All mortgages' is a lot of mortgages.

    All mortgages is a lot less than it used to be.

    "proportion".

    Its an interesting word isn't it.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Rinoa wrote: »
    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.

    Bradford & Bingley and Northern Rock to name a couple. ;)
  • geneer
    geneer Posts: 4,220 Forumite
    HAMISH_MCTAVISH wrote: »
    Not when the number of renters is growing faster than the number of rental properties.

    Hence rents at new record highs. :)

    Though it turns out not that dissimilar to rents in 2008, when you exclude london.

    Context. Analysis. Nice!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    julieq wrote: »
    The shift towards concentration of property ownership towards investors continues.

    Interesting view. As the NRAM accounts as at 30th June 2011 show a total lack of equity held.

    Indexed average loan to value for B&B is 81.6%.

    Indexed average loan to value for Northern Rock is 82.9%.

    When you consider majority of BTL mortgages are interest only not much room if the market turns downwards.

    Seems as if many investors are holding out for capital gain. Feel as if they've a long wait.
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