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Wednesday, May 20, 2015

BTL lending activity stays strong

The Council of Mortgage Lenders statistics for March 2015 show further growth in the Buy-to-let sector.

18,200 buy-to-let loans were taken out in March, up by 12% on February and 21% more than March 2014's lending.

The total value of BTL loans taken out during March 2015 came in at £2.7billion, of these, 8,600 were for house purchases, up 8% on February. 

Buy-to-let remortgages made up the majority of the remainder, with 9,400, up 15% from February, and 29% on March 2014. The total value of BTL remortgages over the month came to £1.4billion. 

The first quarter of 2015, has seen the buy-to-let lending sector grow it share of total gross mortgage lending to the highest proportion since records began in 2006, now standing at 18%, although this is more a reflection of shrinking home-owner activity.

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