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Monday, July 06, 2015

Rise in BTL lending and remortgages

The lending figures released by the Council for Mortgage Lenders for April 2015 show that buy to let sector is continuing to grow.

Although residential mortgage lending as a whole fell to £8.2bn this April, compared to £8.9bn in April 2014, buy-to-let lending was up 22 per cent from the previous year.

CML figures for April report £1.1bn was advanced to landlords.

The rise in lending to landlords coincides with the start of the new pension rules, unlocking pension pots.

The CML also reported a rise in landlords remortgaging, with £1.4bn lent to investors switching to a new deals - up 40% from April 2014.

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