End of buy to let?
Several buy to let lenders have recently withdrawn from the market place making the placement of buy to let mortgages extremely difficult. Several lenders have withdrawn their products for the time being, but with the demise of the Bradford and Bingley, Mortgage Express has had to withdraw probably permanently. Many others have released a severely reduced portfolio of products. 84% of all buy to let mortgage products disappeared yesterday!
However, it is not just the buy to let market which has been hit, as some 60% of all residential products have been withdrawn since yesterday.
For the time being, things look grim, and with no let up in sight, it could get a lot worse yet.
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