You are browsing:
Home
> Property News
>
2008 10 > Landlords 'hit by B&B nationalisation'
GUIDES
News Categories
Buying Property
Credit Crunch
EPCs
Estate Agents
First Time Buyers
General
Home Information Packs
House Building
House Prices
Interest Rates
Landlords Buy To Let
Mortgages
Property Tax
Renting Property
Selling Property
Stamp Duty
Utilities
Credit Crunch
EPCs
Estate Agents
First Time Buyers
General
Home Information Packs
House Building
House Prices
Interest Rates
Landlords Buy To Let
Mortgages
Property Tax
Renting Property
Selling Property
Stamp Duty
Utilities
News Archives
2009 July
2009 June
2009 May
2009 April
2009 March
2009 February
2009 January
2008 December
2008 November
2008 October
2008 September
2008 August
2008 July
2008 June
2008 May
2008 April
2008 March
2008 February
2008 January
2007 December
2007 November
2007 October
2007 September
2007 August
2007 July
2007 June
2007 May
2007 April
2007 March
2007 February
2007 January
2006 December
2006 November
2006 October
2006 September
2006 August
2006 July
2006 June
2006 May
2006 April
2006 March
2009 June
2009 May
2009 April
2009 March
2009 February
2009 January
2008 December
2008 November
2008 October
2008 September
2008 August
2008 July
2008 June
2008 May
2008 April
2008 March
2008 February
2008 January
2007 December
2007 November
2007 October
2007 September
2007 August
2007 July
2007 June
2007 May
2007 April
2007 March
2007 February
2007 January
2006 December
2006 November
2006 October
2006 September
2006 August
2006 July
2006 June
2006 May
2006 April
2006 March
Landlords 'hit by B&B nationalisation'
Posted: 03 Oct 2008 13:57:50 GMT
The nationalisation of specialist mortgage provider Bradford & Bingley (B&B) has prompted a number of other lenders to withdraw their buy-to-let deals from the market, it has been revealed.
In a move that has left many landlords unable to secure finance, lenders UCB, Bristol and West and The Mortgage Works have all retracted their buy-to-let (BTL) rates.
Katie Tucker, technical manager for broker Mortgage Force, said that the downfall of B&B - the nation's biggest BTL lender - and the failure of US Congress to rescue financial institutions in the United States had left providers fearful of the risks.
"When big players fall back, others have to follow suit to avoid being swamped by the riskier mortgage applications," she said.
"This leaves little affordable choice for remortgages so thousands of buy-to-let landlords could reach the end of their introductory rates this coming year and find that their rent does not cover the mortgage payments on the lender's standard variable rate."
According to the Council of Mortgage Lenders, however, the BTL mortgage market continues to hold up well in the face of adversity, especially when viewed next to the residential market.
© Houseladder Ltd
Selling or Letting?
Advertise Your Property FREE. Reach over 400,000 Buyers and Tenants every month!
FREE Property Guide
How To Sell, Buy, Let or Rent Property FASTER. Essential Reading for the credit crunch!
Financial Worries?
Tired Of The Rat Race? Want a Solution? Need a Second Income?
Watch This Video
FREE Property Advert
Selling or Letting? List Your Property FREE Now!
FREE eBook worth £47
How To Sell Or Let FASTER and Save £1000s!
Financial Worries?
Tired Of The Rat Race?
Want a Solution?
Watch This Video
LATEST NEWS
Property price predictions made
02 Jul 09
Warning issued over home improvement
02 Jul 09
Around 1m first-time buyers waiting for property
01 Jul 09
Nationwide house prices consistent with Rics' data
01 Jul 09
Ahipp says 95% of transactions involve Hips
30 Jun 09
Property prices up in June, says Nationwide
30 Jun 09
Average Welsh property valued at £119,990
29 Jun 09
London property prices 'to tick back up'
29 Jun 09
Local knowledge 'an advantage for buy-to-let investors'
26 Jun 09
Landlords see rents stabilise
26 Jun 09
Property buyers urged to research using websites
25 Jun 09
Increase in number of mortgages approved
25 Jun 09
Property improvement advice for homeowners
24 Jun 09
More property selling reported
24 Jun 09
Better property market forecast offered by CML
23 Jun 09
Buy-to-let 'to change' as sales sector picks up
23 Jun 09
Buying, selling and current property market assessed
22 Jun 09
Buy-to-let 'bounces back'
22 Jun 09
Property event attracts the crowds
19 Jun 09
Selling or Letting? List Your Property FREE Now!
FREE eBook worth £47
How To Sell Or Let FASTER and Save £1000s!
Financial Worries?
Tired Of The Rat Race?
Want a Solution?
Watch This Video
LATEST NEWS
Property price predictions made
02 Jul 09
Warning issued over home improvement
02 Jul 09
Around 1m first-time buyers waiting for property
01 Jul 09
Nationwide house prices consistent with Rics' data
01 Jul 09
Ahipp says 95% of transactions involve Hips
30 Jun 09
Property prices up in June, says Nationwide
30 Jun 09
Average Welsh property valued at £119,990
29 Jun 09
London property prices 'to tick back up'
29 Jun 09
Local knowledge 'an advantage for buy-to-let investors'
26 Jun 09
Landlords see rents stabilise
26 Jun 09
Property buyers urged to research using websites
25 Jun 09
Increase in number of mortgages approved
25 Jun 09
Property improvement advice for homeowners
24 Jun 09
More property selling reported
24 Jun 09
Better property market forecast offered by CML
23 Jun 09
Buy-to-let 'to change' as sales sector picks up
23 Jun 09
Buying, selling and current property market assessed
22 Jun 09
Buy-to-let 'bounces back'
22 Jun 09
Property event attracts the crowds
19 Jun 09
