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Are we seeing the end of the buy to let boom?

The buy to let boom was the epitome of the rise and rise in the UK property market over the last decade but the signs are that many buy to let businesspeople are struggling. Mortgage rates have not reduced in line with base rates, house prices are falling, many UK tenants are struggling to pay their rent and more and more homes are being dumped on the rental market which is having a detrimental effect on rental rates.

All in all it looks as though the buy to let boom is over for the time being and the Council of Mortgage Lenders believe that the situation will get worse before it gets better. This was an area of the market which many had seen as untouchable with a great number of buy to let landlords enjoying the lucrative times in the property market of late. Whether they have just over extended themselves, been caught by bad tenants or the relative inflexibility of the UK banking sector has turned the screw on them is unclear but the situation is getting worse.

Some of those buy to let landlords who joined the party late will have bought at near the top of the market and will be struggling to cover their mortgage payments.

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