Mort­gage boom for buy-to-let in­vestors

Yorkshire Post - Property - - PROPERTY -

LENDERS ad­vanced 40,000 mort­gages, worth £5.1bn, to buy-to-let in­vestors in the sec­ond quar­ter of 2013, ac­cord­ing to the Coun­cil of Mort­gage Lenders.

Both the num­ber of buy-to-let loans, and the value of lend­ing, were the high­est since the third quar­ter of 2008.

Buy-to-let lend­ing is con­tin­u­ing to re­cover strongly, but from a low base.

The CML’s head of pol­icy Jackie Ben­nett says: “Strong rental de­mand is con­tribut­ing to the con­tin­u­ing ex­pan­sion of the buy-to-let sec­tor, but growth is also be­ing helped by im­proved con­di­tions in fund­ing mar­kets and more wide­spread avail­abil­ity of mort­gages. Th­ese con­di­tions are cre­at­ing more op­por­tu­ni­ties for land­lords to re­mort­gage.”

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