The Royal Institution of Chartered Surveyors has released figures showing a slump in the buy-to-let industry. Their recent survey indicated a drop in the number of residential lettings towards the end of 2007 – the first decrease since 1998. The institution revealed that one per cent more chartered surveyors reported a fall than those who reported an increase for the final three months of 2007.
The figures are something of a surprise given the figures recently released by the Council of Mortgage Lenders (CML). Their figures suggested buy-to-let loans were up by nearly a quarter last year. Another surprising trend that the CML’s figures suggested was a particular increase in buy-to-let loans in the second half of 2007, despite the problems following the US sub-prime crisis.
Buy to Let Loans Suffer Slump
Buy to Let Loans Suffer Slump
Wed, 19 Mar 2008
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