In the midst of the credit crunch it is not positive to see Bradford & Bingley, a buy-to-let loans specialist, has reported a loss for the six months up to 30th June.
B&B made a loss of £26.7m compared to the profit that they made against a £180.4m profit the previous year. Due to the circumstances it is not a surprise that they have made a loss but it is quite worrying to see the extent of this loss.
The conditions mean that it is harder to get access to credit and therefore people may struggle when it comes to purchasing property.
Looking to the future B&B have said that they would reduce the volume of buy-to-let mortgages until the market becomes more favourable. Therefore, for the time being people may find it difficult to get there hands on a buy-to-let loan.
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