Life gets tougher for buy-to-let landlordsThe Bank of England’s Prudential Regulation Authority (PRA) will announce new lending requirements for landlords in the coming weeks. Under the new rules, landlords will have to show that they can provide rental income of 145% of their mortgage payments – up from 125% – and at stress rates of 5.5% – up from 5.25%. Alistair Hargreaves at John Charcol argues that the crackdown on buy-to-let will not help first-time buyers who he says will be priced out by larger, professional landlords once amateur landlords are forced to sell.
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