The number of mortgages available in the UK has fallen by 11% in just one day, according to Moneyfacts.co.uk.
The buy-to-let sector was particularly badly hit as the nation’s largest lender in the sector, Bradford & Bingley, was taken over by the Government. Moneyfacts.co.uk’s database shows the number of residential and buy-to-let mortgages available in the UK fell from 3,914 at the beginning of business on Monday to just 3,469 today. Buy-to-let mortgage availability fell by 27%, with numbers reduced to 481 from 662 yesterday. Overall, the number of buy-to-let mortgages available in the UK has dropped 85% over the past year, according to Michelle Slade of Moneyfacts.co.uk. “Bradford & Bingley ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
