Bank of England mortgage powers to include buy to let

Buy to let owners facing tighter BoE mortgage controls

Breaking news from has announced George Osborne will extend Bank of England mortgage powers to cover buy to let. 

Previously the BoE and the government consulted on the perceived risk of buy to let mortgages to financial stability. 

Potential LTV limitations for BTL mortgages

BoE mortgage powers for residential market include limiting loan to value and debt to income ratios. 

FPC does not see immediate need to act on buy to Let 

In a recent statement the FPC revealed that it saw no need for immediate action on buy to let.

Will buy to let owners be rushing to remortgage as a result?

It remains to be seen if the news will spark a rush of landlords looking to remortgage or even sell parts of property portfolios before any potential restrictions come into force. 

This information should not be interpreted as financial advice. Mortgage and loan rates are subject to change.