Buy-to-let mortgages in Britain, especially those issued
recently, are more risky than loan deals signed before the 2008 financial
crisis, according to a Moody’s report. The ratings agency said one factor was
that a new cohort of lenders, in their quest for market share, tend to issue
loans with higher average loan-to-value ratios, laxer credit history
constraints and longer maximum maturities than established lenders, degrading
the quality of recent buy-to-let loans. Pre-crisis loans have also benefited
from rising house prices in a way newer ones will not, it continued.
Loan-to-value ratios have fallen more on legacy loans thanks to this than they
have on newer ones. Read more on the Reuters website.
Fee hikes will price us out of canals, say houseboaters in England and Wales
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Charges to go up by as much as 75% for widest vessels under five-year
licence increases that started in April
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