Buy-to-let loans have been pulled at their fastest rate for nearly eight years as lenders braced themselves for tougher affordability rules.
An article online at Primelocation says, ‘a total of 74 deals were withdrawn from the market during December, the biggest reduction in products since March 2009 during the global financial crisis, according to financial information group Moneyfacts.’
The fall in loans is like to be due ‘to lenders preparing for the new affordability criteria, which was brought in on January 1, as well as additional changes due to be introduced in September. Lenders are also likely to be weary of the impact April’s tax changes will have on landlords.’
Read the full article, here.