Monday, May 18, 2009

EVICTIONS OF LANDLORDS

"Tens of thousands of landlords are struggling to meet their mortgage repayments as the economic downturn devastates the buy-to-rent market, according to a new report. Moody's, the rating agency, released figures yesterday showing that 3.55 per cent of landlords were at least three months behind with mortgage payments in the first quarter of the year - compared with 0.95 per cent in the same period a year ago. Repossession of buy-to-let loans had also risen marginally, to 0.18 per cent in the first three months of this year from 0.13 per cent in the first three months of last year. There are about a million buy-to-let landlords in the UK, according to the Council of Mortgage Lenders." (Times, 13 May) RD

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