BTL lending level with last April

Compared with March, April saw gross BTL lending fall 17% by value and 16% by volume according to the latest CML data.

Despite this drop, April's BTL lending, is comparable with April 2016's; the number of loans up 1% and the amount borrowed the same at this month a year ago.

Buy-to-let activity was driven by remortgage lending which accounted for over two thirds of total lending. The number of loans for buy-to-let house purchase advanced in April remained low compared to activity seen before the change on stamp duty on second properties introduced in April last year.

CML's Paul Smee, comments:

'April comparisons are distorted by the weakness last year following the stamp duty changes, and the normal seasonal lending surge in March. But the seasonally-adjusted picture shows lending relatively unchanged month-on-month across all lending segments.

Heading into the summer months, we expect the market to remain slightly lopsided. Buy-to-let and home movers may well remain subdued, as they have been for the last six months. But both first-time buyer and remortgage lending should maintain momentum on the coattails of the attractive deals available.'

Home buyer activity in April down on March but up on a year ago. https://t.co/qNTQlSho38 pic.twitter.com/UGrHepmyVt

— CML press office (@cmlpressoffice) June 13, 2017

Search the whole BTL mortgage market free 

Mortgage market summary for April available after .@cmlpressoffice data out just now. Market subdued on nearly all metrics #housingmarket pic.twitter.com/VfXbOZLIVl

— Mohammad Jamei (@mjjamei) June 13, 2017

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