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Thursday, February 25, 2016

BBA report BTL mortgage surge

The BTL surge seems to be continuing. Latest figures from the British Bankers' Association ( BBA) reports its members approved 47,509 mortgages in January for house purchases.

That's 27% higher than January 2015.

The BBA chief economist Richard Woodhouse comments -

"The start of the year has seen a significant rise in mortgage borrowing. It seems that this has been driven, in part, by borrowers looking to get ahead of the increases in stamp duty for buy to let and second home buyers scheduled to come into effect in April" 

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