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Wednesday, March 04, 2015

BTL lending will break £30bn

Leading buy-to-let experts predict mortgage lending will go beyond £30bn this year and the private rental sector will account for 25% of all residential properties by 2020.

Buy to let lending has grown from £15.7bn in 2012 to £20.7bn in 2013 and jumped to £27.4bn last year. It is predicted to surge past £30bn in 2015 despite the uncertainties of the sector due to the general election.

Speaking at the Great Buy-to-let Debate in London David Whittaker from Mortgages For Business commented: “I think we’ll end up seeing around £31bn in lending to landlords this year, which would be about 12 per cent growth from where we were in 2014.  I think that is a sensible figure to chase, let’s achieve it and not go mad. Ten to 12 per cent growth indicates a stable market.”

The buy-to-let panel consensus was that the private rented sector will account for one in four properties by 2020 up from 19.4% at current levels.

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