Private residential sector a ‘ticking timebomb’ warns agent
Charles Curran, principal of central London agency Maskells, has warned that buy-to-let investors may be forced to quit the sector in droves. He predicts that substantial volumes of rental property will be put up for sale between April 2018 and April 2019 following the phased reduction of mortgage interest tax relief for landlords. Property investors will be put under additional strain when mortgage rates are pushed up due to an increase in capital charges for banks – triggered by a recent international agreement, know as Basel III.
Full story available from Letting Agent Today: https://www.lettingagenttoday.co.uk/breaking-news/2016/6/letting-agent-warns-of-long-term-buy-to-let-ticking-timebomb