Buy to let lending hits post crash high

The Bank of England's official data shows that buy-to-let mortgage lending hit the highest level since the crash of 2008.

Official data showed lending rocketing from £5.9 in the 3rd quarter of 2013 to £8bn in the same quarter this year.

Buy-to-let mortgage choice continues to increase with Moneyfacts reporting in July that the number of buy-to-let mortgage products had expanded to a post crash high of 665, a rise of 42.7% on a year earlier.

The cost of borrowing for landlords also continues to fall with rates of 4.17% for the average fixed rate and 4.03% for the variable rate mortgages as of July this year.

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