Buy to Let mortgages shrinking
Published on Fri, 23rd Jun 2017 17:08
The Council of Mortgage Lenders have revised their estimates for Buy-to-Let borrowings
Last December it had originally forecasted that £38bn would be loaned in 2017 and 2018; this is against the high of £40.6bn in 2016.
It has now revised 2017 to be £35bn, and 2018 to be lower at £33bn.
This is against owner occupier mortgages being up by 12% from April, when £20.1bn was advanced. This is also higher than May 2016 when £17.9bn was advanced.
It would appear that George Osborne’s plans to stifle the industry are now starting to come through. Again we ask, who will house the vast numbers of family in the PRS of the Government continue to squeeze?
See the graph below from the CML:-