Additional powers to control BTL mortgage market

Mark Carney the Governor of The Bank of England (BOE) has for some time now been making the point that the UK buy-to-let mortage market poses a threat to Britain’s economic recovery, at present certain controls exist for the residential mortgage market that do not for the Buy-To-Let (BTL) mortgage market.

The Governor of the BOE had previously asked for the Bank to be given “additional powers” over buy-to-let mortgages, George Osborne appearing before  the Treasury select committee this week reportedly said that he had “granted those powers” to the Bank.

It is expected that these additional powers will bring buy-to-let mortgage rules more in line with those of the residential mortgage, stricter regulations were introduced last year to  residential mortgage applications designed to prevent the housing market from overheating.

The additional regulations when implemented could make it more difficult to become a buy-to-let landlord, if that is the case what effect will that have on the private rented market property supply? The private rented sector is already being bombarded with new regulations surrounding tenancy agreements, tenants rights, environmental and safety issues, right-to-rent and so on, stronger regulation of the buy-to-let mortgage is just another hurdle to add to the list for landlords.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

BREAKING PROPERTY NEWS – 17/05/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   PRESS RELEASE: BriefYourMarket partnerships take lead generation to next level Generating and nurturing leads is the backbone of estate agency. According to Richard Combellack, Chief Commercial Officer at BriefYourMarket, this is exactly what BriefYourMarket is about, finding and nurturing new leads via a variety…
Read More
Home and Living

5 Gas Safety Tips to Keep You Safe at Home

Houses with safety hazards are not desirable, since they endanger the lives of their occupants. The value of your home diminishes if you’re your house and property are damaged, including gas appliances. Therefore, all owners, landlords, and tenants have a responsibility to have the appliances they own tested for functionality. Check all of your household…
Read More
do i need planning permission for a shed
Home and Living

What you need Planning Permission for in your Garden

Gardens, mostly those at the rear of property, offer us a great diversity of options outside just a lawn and patio area. From outside office space to swimming pools, gardens are a great space in which we can add great value to our lifestyles from leisure to work. Planning permission is the phrase used to…
Read More
Breaking News

BREAKING PROPERTY NEWS – 16/05/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   nurtur.group continues to strengthen its leadership team With my non-journalist hat on, and to ensure complete transparency, I also hold a position as a non-executive director at nurtur.group – AS Following the recent acquisition of BriefYourMarket, proptech supplier, nurtur.group has announced that Damon Bullimore…
Read More
Overseas Property

How to reside in Spain through an investment

Golden Visa residence in Spain is a residence visa for investors. It was created by Law 14/2013 on support for entrepreneurs and their internationalisation, and its purpose is to attract non-EU foreign investors to Spain. This visa offers legal residence in Spain for a period of 6 months to 2 years depending on the type…
Read More
burglar uk
Home and Living

What do Burglars look for in a House?

We are all aware, unfortunately so, that today we need to be very careful on what we leave on show that could tempt a burglar / thief. Home security has certainly improved over the years including methods of combating crime and deterring those tempted to break in and enter. Especially with the invention of the…
Read More