Bradford and Bingley boss: Buy to let market “closed”
Richard Pym, executive chairman of nationalised bank Bradford and Bingley, has claimed the the buy to let mortgage market is “closed.”
Mr Pym said that due to the amount of deals withdrawn from the market during this year’s economic turmoil the market is now completely different to last year, BBC News reports.
Mr Pym was speaking during a Treasury Committee banking enquiry hearing.
He also said that more Bradford and Bingley customers were in arrears when compared to the industry average.
December 1st, 2008 at 9:29 am
Is this just true for B+B? Because it’s not what I’ve heard elsewhere. A friend has just bought a new property and had “no trouble” getting a buy to let mortgage.