Call for the Government to accept EU regulation of 'Buy to Let' Mortgages

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Call for the Government to accept EU regulation of 'Buy to Let' Mortgages

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EU regulation would restrict 'Buy to Let' mortgage availability and force landlords who are unable to remortgage to sell up, generating lower house prices (therefore more affordable houses) for all those first time buyers who are currently renting.

At its heart, the EU draft Directive on Credit Agreements Relating to Residential Property says says buy-to-let mortgages should be regulated in the same way as residential mortgages. This would prevent lenders from taking anticipated rental income into account when deciding the amount of the loan.

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