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London, 30 March 2016 – Adam Challis, Head of Residential Research at JLL:
“New, prudent lending criteria for Buy to Let investors addresses a particular concern from the Bank of England regarding exposure to price falls in the underlying housing market.
“In isolation, these new limits are the right thing to be doing for the UK economy. Taken as part of the raft of changes to stamp duty and the Mortgage Market Review, landlords will be increasingly dissuaded from investment in the residential market. “Weaker investment demand, at a time when it is vital to underpin new residential development activity, could put upward pressure on rents. These consequences may be deemed manageable from policy makers, but mean that renters once again are getting a raw deal.
“The UK desperately needs the full range of property types to be delivered, but particularly new rental product. This is the fastest growing tenure and housing policy is currently not doing enough to recognise need in this area.”
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Notes to Editors:http://residential.jll.co.uk/new-residential-thinking-home/news.aspx
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