Carney: We are keeping a close eye on buy-to-let post-Brexit

Ryan Fowler

July 5, 2016

buy-to-let buy to let house

Bank of England governor Mark Carney has said the Bank of England is keeping a close eye on the buy-to-let market as the economy enters a period of uncertainty post-Brexit. 

The Bank said it could see signs the UK economy was on the verge of a dramatic slowdown in the aftermath of the vote.

When asked if he was worried about a crash in the buy-to-let market he said the Bank is watching the buy-to-let sector carefully.

PRA upholds 5.5% buy-to-let stress test

But he said the Bank included a housing crash in its latest Stress Tests — and the current environment is not a serious as modelled in those tests.

“The core of the UK financial system is very strong, and it will be there for home-buyers and businesses,” he added.