Abbey pulls out of buy-to-let mortgages

Zammo

http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article3790429.ece

Abbey has stopped selling buy-to-let mortgages to landlords, blaming "recent market moves" for a raft of measures announced today that will also penalise some residential borrowers.
The bank said that it had temporarily withdrawn from the buy-to-let market to concentrate on its residential mortgage business.
However it also introduced stricter lending rules for homeowners, who will now need a deposit worth at least 25 per cent of their property's value to qualify for Abbey's cheapest deals.

The BTL lemmings are gradually running out of cliffs to hurl themeselves off of.

:T

Benefits_Blagger

Zammo wrote: »

http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article3790429.ece



The BTL lemmings are gradually running out of cliffs to hurl themeselves off of.

:T

Every day the news just better and better!

hopefully at some point we should all get together, drink champagne and pat each other on the back for not having the bottle to buy property!

Woohoooooooooooooo!

sarkin

Im a mortgage broker so it did not take much bottle, may loose my job but wont get reposesed.