Gosh, how the property market has changed and continues to change rapidly!
As you will be well aware, the credit crunch has and continues to have a sever impact on the property market. It has already caused:
- Thousands of mortgage lenders to withdraw their products or dramatically increase the lending criteria
- The number of house sales to dramatically decline month on month and year on year
- House builders share prices going into free fall and offices being closed
- House prices falling at the fastest rate in years
What about existing landlords?
Most of the press seems to focus on those who are trying to buy property, but what about those existing landlords who already own property? How are they fairing with the current turmoil?
