| From Property Wire: The fall out from the nationalisation of UK troubled bank Bradford & Bingley will further restrict the choice of lending in the property market, it is predicted. The most competitive deals are being pulled and the cost of mortgages will be increased. Until now B&B was offering the best buy-to-let mortgage deals.
Analysts are warning that between 400,000 and 500,000 of the 1.2 million outstanding buy-to-let mortgages in the UK are likely to require refinancing in the next 12 months. With the values of properties falling and the required rental cover needed to secure new borrowing rising, most borrowers will struggle to meet lending criteria, according to Ray Boulger, senior technical manager at mortgage broker John Charcol..... Full Article: Source
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