Buy To Let Mortgages Fall

Published / Last Updated on 13/11/2018

Buy to Let Numbers FallThe number of Buy to Let Mortgages being arranged has fallen by nearly a fifth this year according to UK Finance ( a trade association for the UK banking and financial services sector). 

In its report on a ‘softening’ mortgage market i.e. slowing down, it suggests that just 5,200 new buy-to-let home purchase mortgages completed in the September compared to September 2017.  That’s 18.8% lower than the same time last year.

In addition:

  • 29,400 new first-time buyer mortgages completed in September 2018 compared to September 2017.  That’s 4.5% lower.
  • 29,400 new moving home mortgages completed in September 2018 compared to September 2017.  That’s 8.4% lower.
  • 35,600 homeowner re-mortgages completed in September 2018 compared to September 2017.  That’s 0.6% lower.
  • 12,300 buy to let mortgages completed in September 2018 compared to September 2017.  That’s 0.8% lower.

Conclusion

People that own property are holding on to it but the additional stamp duty, capital gains taxes and income taxes are discouraging more new buy to let investment.


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