Landlord Repossessions....

Mortgaged-up landlords seemed to be getting away with it during the first months of the crash... with repo-figures looking modest compared to domestic properties.

Not any more.

The latest Council of Mortgage Lenders figures show 1,700 buy-to-let properties repossessed in the first quarter of 2009. But factor in instances where the lender opts for appointing a receiver and continuing to collect rent and the figure leaps to 4,100.

Part of the story is about a trend... lenders opting to hold onto and rent out properties rather than simply repossess them and chuck them onto the market at diminishing returns. Very sensible.

The other part of the story is about the market finally catching up with landlords. Using the figures that include the appointment of a receiver of rent, and three times as many landlords were repossessed than private owners across the period.

Seems like the crunch is hitting everyone..... :-(

Jackson.