Buy-to-let lending up in 2nd Qtr

The latest figures on buy-to-let lending reveal that lending has risen to its highest level since the fourth quarter of 2008.

The Council of Mortgage Lenders (CML) figures revealed that in the 2nd quarter of 2010 the number of buy-to-let mortgages taken out rose to 24,900, up 13% on the previous quarter. This figure was also 15% higher than the he same period last year.

At the end of June, there were 1.26 million buy-to-let mortgages outstanding, worth a total of £149 billion, accounting for 12% of all mortgages - the highest proportion since records began, the CML said.

FREE mortgage search