Thursday October 29, 2020

Buy to fret

Buy-to-let property investors are under mounting pressure and it is increasingly a renters' market, writes Nicola Cooke.

24th March, 2012
2
Patrick Honohan, governor of the Central Bank of Ireland. Photo: Tony O'Shea

Central Bank governor Patrick Honohan's recent remarks about banks needing to take more "aggressive action" on repossessions of buy-to-let properties were a source of alarm for some investors.

While there is little public sympathy for buy-to-let investors - compared to sympathy for families saddled with negative equity and large mortgages they are struggling to repay - the value of their properties, and the rental income earned from them, has dropped significantly. Some have negotiated interest-only...

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