Remortgage customers dominate buy to let sector
According to a recent study of 200 UK mortgage brokers, the buy to let mortgage sector is being dominated by professional landlords who are either buying more mortgages, or remortgaging their existing properties.
The number of first time buyers in the buy to let sector has shrunk to its lowest level in recent times this quarter.
The number of remortgages shows landlords looking to save money, whilst the growth of mortgage buying by existing landlords suggests that first time buyers are being squeezed out of the market.
November 7th, 2008 at 9:13 am
It’s not surprising that the only people who can afford a house are the ones who already own a house. Prices will need to drop further before that changes.