| From Reuters: The number of new buy-to-let mortgages fell 15 percent on a year ago in the first six months of 2008, a survey showed, as the lending squeeze continues to depress the housing market.The Council of Mortgage Lenders said new buy-to-let mortgages fell to 144,600 in the first half of the year from 176,500 in the final six months of 2007 and 169,500 in the first half of last year.
"The shortage of mortgage funding is creating similar problems for buy-to-let landlords as it is for other borrowers," said Michael Coogan, director general at CML."However, we expect the rental market to remain underpinned by strong demand, partly because some people who would like to buy a home are being forced to carry on renting for now."Lenders have toughened up their terms in the wake of the global credit crunch, putting pressure on demand in the housing market and contributing to a sharp fall in house prices..... Full Article: Source
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