Buy to let landlords lose £6 million every hour, survey says
Fund manager Managing Partners Ltd’s latest research claims that buy to let landlords lost £52.8 billion in equity in the year up to October 2008.
This makes a loss of £144.77 million per day or £6 million per hour.
Despite this more investors have joined the buy to let mortgage market.
Buy to let mortgagees have increased since 2007, when there were roughly one million, to 1.2 million now.
December 23rd, 2008 at 2:23 pm
In equity, not rent - and equity will only be realised when they sell. Many will not lose out overall if they bought long enough ago, anyway.
December 23rd, 2008 at 2:28 pm
£44,000 per house per year?! How can that possibly be correct?
If so, it’s horrendous. If not, someone needs to check their sums.