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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

Popular buy-to-let mortgages `may decrease property prices`

31/08/2007

Another increase in interest rates may send prices of rental properties falling by as much as 20 per cent, one of Britain`s biggest landlords has said.

Investors in the buy-to-let mortgage market are losing money rapidly due to high rates of interest, Andreas Panayiotou chairman of the Ability Group, which has developed more than 2,500 flats, said.

While landlords took out 171,800 buy-to-let mortgages in June, according to the Council of Mortgage Lenders, Mr Panayioyou told the Financial Times that thousands would have to drop prices as the gap widens between profits and borrowing costs.

Mr Panayioyou said: "Investors are joining in because people say that residential is great, but they are not experienced enough. There are blocks across the country where most of the flats have been bought by buy-to-let investors and many are empty."

In related news, the government has ordered an investigation in to the high levels of buy-to-let mortgages being sold to see whether it is driving first-time buyers away from the market, Inside Housing reports.

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