BTL Grows, Renting Up 5%
May 6th, 2008 by 
Guy
The number of people renting in the UK has risen by 5% says Moneysupermarket.com.
The website claims the credit crunch and tougher lending criteria imposed by mortgage lenders was to blame for the rise.They stated that the number of buy-to-let mortgage deals available has fallen by about 40% during the past month.
Louise Cuming, head of mortgages at Moneysupermarket.com, says: “You would imagine this would mean the buy-to-let market would start to grow.
“But our research shows the number of buy-to-let products has decreased from 4,025 to 674 in just one year, with nearly 600 of these products removed since March 31 2008.”
She adds: “As stringent lending pushes people into the buy-to-let market, the decrease in the number of buy-to-let mortgages is becoming increasingly alarming.
Posted in Mortgage news | 