15 Feb

Buy-to-let market experiencing improvements in lending

Buy-to-let market experiencing improvements in lending

The market for buy-to-let properties for sale across the UK could be about to boom again, after it was revealed that the private rental sector saw yet another strong year in 2012.

A large number of landlords will be looking to expand their portfolios in 2013, following on from a year when mortgages for this type of purchase were on the increase.

It was reported by the Council of Mortgage Lenders (CML) that lending to these sorts of buyers made up 11.5 per cent of overall borrowing in the UK throughout the year, up from 9.8 per cent a year earlier.

CML director general Paul Smee said: "Landlords who can demonstrate a strong track record are in a good position to expand their portfolios. However, new potential landlords need to tread carefully before entering the buy-to-let market; considerations such as landlord licensing reinforce the need for potential landlords to gain a strong understanding of the legal and operating environment."ADNFCR-1222-ID-801541112-ADNFCR

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