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Buy to let repossessions ''still low'' - buy to let mortgages

Published: 15.5.2008

The number of repossessions of properties with Buy to Let Mortgages is still very low, it has been pointed out.

In an article on the state of the industry, finance website Moneyextra.com noted that there had been a 50 per cent rise in such events in the forth quarter of 2007 compared with a year earlier, according to Council of Mortgage Lenders (CML) figures.

However, it was pointed out, this meant a rise from just 0.06 per cent of repossessions to 0.12 per cent in that time, indicating that most landlords are on a financially sound footing.

The article also noted the recent CML research finding that just two per cent of landlords wanted to sell any of their properties when the current tenancies end despite the recent favourable changes to capital gains tax.

A new survey by Mortgage Express has revealed that six out of ten landlords think the current time is actually a good one to expand their property portfolios, reports Letting News.

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