Concern over possible new EU buy-to-let rule
There is concern that an EU draft directive to assess new buy-to-let mortgages in the same way as residential mortgage applications may be implemented in 2013.
The EU would like to see new buy-to-let mortgages to be based on affordability, creditworthiness, income and outgoings, rather than the current minimum income (typically £25,000), a good credit score and the rental income generated by the property. A vote of MEP's is set to take place next spring.
18 November 2011
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