Sigh-To-Let

From today’s Times:

Buy-to-let landlords struggle to repay their loans:

Tens of thousands of landlords are struggling to meet their mortgage repayments as the economic downturn devastates the buy-to-let market, according to a new report.

Moody’s, the ratings agency, released figures yesterday showing that 3.55 per cent of landlords were at least three months behind with mortgage payments in the first quarter of the year — compared with 0.95 per cent in the same period a year ago. Repossessions of buy-to-let loans had also risen marginally, to 0.18 per cent in the first three months of this year from 0.13 per cent in the first three months of last year.

Tiberius says: “Get ready for Headingley, Hyde Park, and Burley to look even more like post-apocalyptic wastelands than they do already”.

See also: Live and Buy-To-Let Die; Bye-To-Let

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One CommentLeave a comment

  1. it’s not the economic downturn that’s devastating the student areas – it’s the massive new accommodation blocks that are sucking demand from the shared houses.

    Another enormous (and ugly) one is coming on-stream right now in Woodhouse Street – hundreds of bedsits and damn all parking. That will really benefit the community.


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