Buy-to-let lending appears to be one of the few areas of increased lending in the economy according to the latest figures from the Council of Mortgage Lenders (CML). Up 29% in terms of the number of property purchases in the first 3 month of the year, to 17,190 advances.
This sounds a pretty healthy increase. Landlords who traditionally have a relatively low gearing on their property assets are obviously making hay off the back of increasing rental demand and rising rents.
Another boom? Not likely - given the restrictive credit markets but relatively speaking landlords are borrowing and investing. In fact buy-to-let mortgages now make up 12.8% of the total value of buy-to-let mortgages compared to from 12.6% at the end of 2011 and 12.2% at the end of the first quarter of 2011.
The total number of buy-to-let mortgages stands at just over 1.4million, with a total value of £159.4billion.
We ain't booming but were certainly ain't bust either. Amen!
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