Saturday, May 12, 2012

Buy-to-let lending up by 29%

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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1 comment:

  1. AnonymousMay 18, 2012 at 11:27 AM

    BLT mortgage does not always mean people are buying to let the property out. sine self cert mortgages disappeared from the market most of mortgage advisers are suggesting to get BLT mortgage if you have 25% deposit. So some of the BLT are either 1st time buyers or people with no proof of income.

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