Mortgages plc Withdrawn From The Prime Buy-to-Let Market
The wholly owned subsidiary of Merrill Lynch will continue to process prime buy to let applications until close of business on Wednesday 26th March, but will accept no new applications thereafter.
Polly Hughes, head of marketing at Mortgages plc, said:
We have seen both an increase in the number of new buy to let applications and a deterioration in credit quality, as other lenders have tightened criteria and pulled out of the market. Given the continuing difficulties in the capital markets, we have decided to pull out of the prime buy to let market for the time being and focus our resources on residential lending. However, we will continue to monitor developments carefully and, as and when the mortgage market starts to return to normal, we will review our position with regard to prime buy to let lending.
Popularity: 17%
More News| If you want Quinny buzz come to us. |
Comments
One Response to “Mortgages plc Withdrawn From The Prime Buy-to-Let Market”
Got something to say?
Latest Property Headlines
- Beautify your Bathroom
- Maintenance of the house
- It’s all in the detail
- Areas of the house to invest in
- New site for Morrisons
- The 2010 election
- Is Spring the best time to sell houses?
- Alternative energy for your house build
- Finding the right bargains
- Will the property market effect your election vote?
[…] Mortgages plc Withdrawn From The Prime Buy-to-Let Market However, we will continue to monitor developments carefully and, as and when the mortgage market starts to return to normal, we will review our position with regard to prime buy to let lending. Original article from: Property … […]