A risk expert at a leading buy to let mortgage company says the industry should actually embrace the restrictions on lending which are expected to be announced this year.
Aidan Brock, risk manager at Foundation Home Loans, writes in Mortgage Strategy that the lettings industry should not criticise but instead consider how it can demonstrate greater collective responsibility and work in closer co-operation with the regulator.
“As year-end approaches, and with the rush to complete deals before the stamp duty increase in April, it will be tempting for lenders to start competing more aggressively on criteria as well as price. But we should be wary of forgetting the lessons of the past and of supporting short-term leverage customers who may find unsustainable as interest rates and the costs of being a landlord rise” he writes.
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment