Buy-to-let mortgages a growth story

Landlords are borrowing more than they did a year ago and are the only group to up their lending according to latest reports in the Telegraph.

CML figures for November revealed that buy-to-let mortgages and lending to landlords is up 9% compared to a year earlier whilst lending to mainstream home buyers fell by 7% and to first time buyers was 3% lower than a year ago.

There were a total of 17,700 buy-to-let loans in November representing lending of £2.4bn.  The mortgage activity for landlord was roughly evenly split between new purchases and remortgages of existing buy-to-lets with 8.900 loans being advanced for new investment property purchases and 8.600 remortgages were given to remortgage an existing buy-to-let investment.

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