This was not the only number going up; BTL mortgages in arrears is also rising. Currently, almost one BTL mortgage in 100 is at least three months in arrears.
Friday, 13 June 2008
Fools rush in
Although house prices began to weaken last summer, the BTL brigade didn't get the message. In the last six months, landlords have taken out over 94,000 new loans - 49,000 since the beginning of the year.
This was not the only number going up; BTL mortgages in arrears is also rising. Currently, almost one BTL mortgage in 100 is at least three months in arrears.
This was not the only number going up; BTL mortgages in arrears is also rising. Currently, almost one BTL mortgage in 100 is at least three months in arrears.
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7 comments:
This only shows that the credit crunch has not affected the BTL market, which continues to enjoy healthy returns, with rents rising sharply.
An arrears rate of less than one percent? Hardly worth mentioning.
That arrears number is about go skywards. Just wait and watch.
Everyone of those 94,000 loans will default.
LEA - these graphs say absolutely nothing about rent... stop trolling, it's getting tedious.
Assuming BTL mortgages are only used to buy property that is let, in the last three months, an additional 49,000 properties have been bought to let with mortgages. That's an awful lot... I wonder if they're all let? I wonder what proportion are owner occupied on BTL terms because the buyers can't prove their income? I wonder what proportion are vacant?
In a slowing economy, I'd see that graph as a shrieking warning of over-supply (assuming it doesn't represent mortgage fraud...)
LEA - these graphs say absolutely nothing about rent... stop trolling, it's getting tedious.
Assuming BTL mortgages are only used to buy property that is let, in the last three months, an additional 49,000 properties have been bought to let with mortgages. That's an awful lot... I wonder if they're all let? I wonder what proportion are owner occupied on BTL terms because the buyers can't prove their income? I wonder what proportion are vacant?
In a slowing economy, I'd see that graph as a shrieking warning of over-supply (assuming it doesn't represent mortgage fraud...)
I think your BTL graph demonstrates the difference between the rich and the rest. The gap grows.
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