The buy-to-let (BTL) market was today branded a "ticking time bomb" in a damning report highlighting the growing gap between the supply of and demand for BTL properties.
According to Moneysupermarket.com, enquiries for BTL mortgages have increased by nearly 50% since August 2008, whilst the number of available deals has dropped by more than 70% in the same period. It says BTL deals have not fallen by as much as mainstream mortgage rates following decreases in the Bank of England base rate. Since August last year the average rate for mainstream mortgages has reduced by 1.95%, whilst buy-to-let rates have only fallen by 1.13%. Hannah-Mercedes Skenfield, Moneysupermarket mortgage channel manager, says new and existing BTL landlords now face the diffic...
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