9 Aug

BTL lending improves again in the UK

BTL lending improves again in the UK

Strong rental demand and a belief that the market will remain a key player in UK property has led to a significant increase in buy-to-let lending in the second quarter of 2013, it has been reported.

The Council of Mortgage Lenders (CML) has said that there were 40,000 mortgages approved in the three months to the end of June this year, which amounted to a total of £5.1 billion.

Compared to a year ago, when prices for rent on a monthly basis were rising time and again, this represents a 19 per cent rise in volumes and a 31 per cent rise in value for the mortgage market, which shows buyers and lenders remain confident even though more people are now able to afford to become homeowners rather than tenants.

The CML added that this rise in lending for the buy-to-let market meant that it was now at its strongest since 2008, a time when it was boosted by the fact normal buyers were essentially locked out of the market.ADNFCR-1222-ID-801623365-ADNFCR

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