EU Trying To Kill Buy To Let | Property118.com
The buy to let market will grind to a halt if EU proposals to change the way lenders hand out mortgages to landlords are approved, claim experts. Do not let this happen – sign the petition linked below. Also, for a bit of fun and to lighten the mood, please help us to fight of the anti BTL Trolls by clicking the thumbs up buttons on the sensible comments, especially the hidden ones. Can you believe that Property118 has been dubbed “the belly of the buy to let beast” by a poster on another forum for running this article?
The new rules will stop landlords buying new property to rent and restrict mortgage lending that will shrink the number of buyers and push house prices down.
This could put landlords and homeowners in to negative equity that would make selling homes impossible.
This bleak picture of the UK housing market of the future could become a reality as soon as 2013 if European MPs vote in favour of draft mortgage regulations that are aimed at pulling the UK market in line with the rest of the EU.
But British lenders say that buy to let should stay outside the directive .........
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