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Is the buy to let market in freefall?

Many estate agents across the UK are reporting a significant increase in the sale of buy to let properties and a number of landlords who are on the verge of "calling it a day". The demise of the buy to let market was reflected in the collapse of Bradford & Bingley which is the leading but to let mortgage provider in the UK. Unfortunately, the more properties which go on to the market the more pressure this will put on rentals values as well as reducing property prices in the area.

The last few months has seen a number of substantial buy to let landlords release their portfolios into the market at a time when buyers are literally staying away from the market. The concern now is that extra selling pressure in the property market would confirm something of a self fulfilling prophecy as prices move lower and more and more people panic.

Even though the government recently announced a six-month embargo on repossessing homes where customers are falling behind with mortgage payments, there are concerns that some banks are still pushing customers who are behind on their mortgages and pursuing the repossession option far sooner than many expected.

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