Britain's controversial buy-to-let property boom looks to have become the latest victim of the global credit crunch as new lending to landlords dries up, the Royal Institution of Chartered Surveyors says today, The Guardian reports.
The RICS quarterly lettings survey shows that access to the buy-to-let market, which has been blamed for pushing up house prices and restricting supply to first-time buyers, became harder for would-be-landlords as mortgage products became more scarce. It shows the first fall in new landlord instructions to surveyors to let their properties since the study began in 1998. One percentage point more surveyors reported a fall than a rise in landlord instructions in the latest quarter. In the previous quarter, the gap was 11 percentage points. THREE LEADING BUSINESSMEN called on the Chancellor ...
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