An increasing number of landlords are having trouble paying their mortgage, new figures have revealed.
Money Mail reports that, for the first time on record, ‘the number of buy-to-let homes in mortgage arrears has increased’. That’s according to data from the Council of Mortgage Lenders which recorded a 6 per cent rise in mortgage arrears among landlords between July and September last year.
Spending and borrowing
Bank of England figures published this morning show that consumer borrowing rose at its fastest rate in more than 11 years in November 2016.
The BBC reports that consumer credit in November increased by £1.92 billion to propel the annual growth rate in borrowing of 10.8 per cent, a rate not seen since October 2005. Meanwhile, the number of mortgages for house purchases approved by lenders rose to an eight-month high of 67,505. In the Eurozone, inflation rose faster than expected last month. Eurostat said prices in the 19 countries using the euro increased 1.1
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