Seriously Boomed

[Diver]

http://news.bbc.co.uk/1/hi/business/7264519.stm

The buy-to-let property market is still thriving, according to the Council of Mortgage Lenders (CML).
The number of buy-to-let loans rose by 23% last year, taking their number to 1,038,000 and accounting for 10.3% of all outstanding mortgages.

This lending picked up in the second half of the year at a time when general mortgage lending was starting to fall.

Tim Hague, of the buy-to-let mortgage lender Birmingham Midshires, predicted the market would continue to be buoyant this coming year.

"With demand continuing to outstrip supply, buy-to-let will continue to be in demand due to socio-economic factors such as rising immigration," he said.

Told you all so

[Xenophon]

Into, out of, ducking, diving, wheeling dealing and generally posting complete tulipe.

HTH

Good man.

[DimPrawn]

I thought you were getting out of BTL, DP?

Into, out of, ducking, diving, wheeling dealing and generally posting complete tulipe.

HTH

[Xenophon]

I thought you were getting out of BTL, DP?

[HRH]

Im just glad Im on the ladder at a young age, some of my friends will be dooomed, dooomed I tells ya!

[Moscow Mule]

However there is hope in sight. The government will intervene and implement some half baked poorly thought out rescue plan which will scr3w the BTL'ers and the FTB's equally and **** the housing market 10 times worse than it would be if left to the mercy of market forces.

It would be best if they would remove tax relief on mortgage interest payments. I suspect that would screw over a healthy number of BTLers. Or bring back Miras for folks who only own one home.

[AtW]

"With demand continuing to outstrip supply

It's the same as to say demand for Porsches outstrips supply, just because lots of people want to get on the housing ladder does not mean they will be able to because many simply won't get high enough morgage, so it is either fall in house prices OR inflation. In USA they are opting for the latter but I reckon they will get both anyway.

[sunnysan]

Nice

Well the only people that can get good mortgage deals nowadays are BTLers with major equity in their properties

Those with property and equity are going to clean up as prices drop because the banks wont touch first time buyers and high risk.

So the buoyent housing market is probably true, but as prices drop, its going to be harder to get a mortgage so in effect, for those poor sods trying to buy there own home, its not really going to help much. BTLers who can raise 25% + are laughing AFAICS

However there is hope in sight. The government will intervene and implement some half baked poorly thought out rescue plan which will scr3w the BTL'ers and the FTB's equally and **** the housing market 10 times worse than it would be if left to the mercy of market forces.

Its depressingly predictable.

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/7264519.stm

The buy-to-let property market is still thriving, according to the Council of Mortgage Lenders (CML).
The number of buy-to-let loans rose by 23% last year, taking their number to 1,038,000 and accounting for 10.3% of all outstanding mortgages.

This lending picked up in the second half of the year at a time when general mortgage lending was starting to fall.

Tim Hague, of the buy-to-let mortgage lender Birmingham Midshires, predicted the market would continue to be buoyant this coming year.

"With demand continuing to outstrip supply, buy-to-let will continue to be in demand due to socio-economic factors such as rising immigration," he said.