In September we reported on EU plans to regulate BTL mortgages and that the Government was receptive to the notion. Lenders are not impressed. Their trade body the CML has urged HM Treasury “not to go beyond the legal minimum” in implementing the EU Mortgage Credit Directive. It wants a restrictive definition of “consumer” which would exclude from regulation all those who have an existing rental property with or without a mortgage but would catch first time Landlords engaging in a BTL transaction and those who inherit property from a family member and are a first time landlord. It looks as though BTL could become a rather exclusive club!