DAILY EXPRESS: A BID by the EU to restrict Britain’s mortgage market would see house prices plummet, experts warned ¬yesterday.
The new rules would dry up funds and force hundreds of thousands of people to sell up.
The glut of homes on the market would then see supply outstrip demand, causing prices to crash.
Brussels bureaucrats want to bring the UK’s crucial buy-to-let sector into line with Continental practice. That would mean landlords could no longer get a buy-to-let mortgage based on rental income.
Instead they would have to rely solely on their personal income. There are about 1.5million buy-to-let mortgages in the UK. Many landlords use second properties to back up their pension. » | Sarah Westcott | Saturday, November 12, 2011
