Flats glut becomes urban nightmare for some

Article Date : 17 October 2008
News Section: United Kingdom

LONDON(Citywire) - Buy-to-let investors have been big buyers of new city centre flats, many of which have suffered some of the biggest price falls in the property market. And although the 0.5% cut in mortgage rate will make buy-to-let borrowing cheaper for those buying, it will do nothing for those who are trying to remortgage a buy-to-let flat that is nearly 20% off the original purchase price...

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Article provided by Reuters.
Read the full article here: http://feeds.reuters.com/~r/reuters/UKPersonalFinanceNews/~3/qnBkQ9exAdg/idUKLNE49G05C20081017

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