With an Election looming the Housing Market is becoming something of a political football. The Buy to let sector in particular is attracting interest. Last year the Bank of England asked for powers to control LTVs and LTIs for both owner-occupied and BTL mortgage lending. For some reason the Treasury back-pedalled on BTL signalling the Banks to tighten lending criteria for hard pressed first time buyers whilst at the same time filling their boots with BTL mortgages. Hardly a level playing field. So has the Treasury taken its eye off the ball or is its long term goal to see mortgage interest tax relief abolished for BTL mortgages? The latter would be a game changer and one which may find favour with the majority of voters.
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