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Thursday, January 15, 2015

CML reports continued BTL growth

The latest Council of Mortgage Lenders data shows 17,700 buy-to-let loans were taken out in November, with a total lending figure of £2.4bn. 

The November figures were down on October's, with loan volumes down 10% and the value total of loans down 11%. The fall reflects a seasonal slowing of the market and not a downward trend. When November 2014 figures are compared with November 2013 figures, the number of loans increased  by 9% and the total value of these loans went up by 14%.

This increased popularity in BTL shows increasing numbers of personal investors are looking to the BTL sector to improve on the diminutive returns they are being offered by their existing savings accounts.

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