Hidden threat of failure of multiple 'buy to let' owners.

The Irish Independent has an article this morning detailing a possibly hidden threat of the failure by large investors owning multiple buy to let properties in Ireland, read here. The potential losses in Ireland do not appear to be likely to be on a massive scale, considering the existing commitments of IRish taxpayers to their banking system, already set to extend to future generations.

In the UK, where the buy to let industry reached levels of greed and absurdity of an almost unimaginable scale, the losses are likely to be far more severe.

One of the main aspects of the 'buy to let' madness was that many loans were interest only, the capital was never paid down, therefore following the house price falls such losses must soon be taken and declared, either by the holders of the loans or by the banks that advanced the funds!

How many of those now involved in keeping Britain's interest rates at the recent and present absurdly low levels, soon to be abandoned as sanity returns to the world's financial markets, are involved in 'buy to let' one must wonder?