Landlords are starting to feel real pain out there in the BTL mortgage market.
I was reading yet another newspaper, this time the article was in the Sunday Times referring to the end of Buy-to Let property investment.
The article refers to Fridays announcement by Mortgage Express that it was increasing buy-to-let mortgage rates by 0.55% on three and 5 year fixed rate loans. OUCHH!!!!@!!!
As the biggest player in the BTL mortgage market that's going to hurt a lot of landlords and doesn't indicate a recovery in lenders liquidity any time soon.
As Ive discussed in the passed these increases in mortgage payments are not been matched by the increases in rents.
Unfortunately many landlords won't be able to take the strain and I can see a rush on landlords unloading un-profitable investment properties hitting a already flooded market.
Bad times - and I do feel sorry for these unfortunate investors. RIP........
But as an investor I have to keep my eye on the opportunities and will the Bad times for some bring about the Good times for others?
Well I don't think quite yet - but as the coming months unravel I see there been a lot of opportunities out there in the market.
My thoughts - sit on your hands but keep your cash around you. There might be a buying spree around the corner. But remember - cash is king!
Save time 5 leading buy-to-let mortgage brokers - 1 FORM
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