23 May

Buy-to-let sector increases

Buy-to-let sector increases

New figures reveal that loans to landlords have increased by 69 per cent over the past year and are now the fastest growing area of the mortgage market.

Data from the Council of Mortgage Lenders (CML) showed that in March there has been a rise in the value of loans made to buy-to-let investors - equally close to £2 billion per month.

However, the volume of lending to landlords still remains below the pre-crisis peaks seen in the buy-to-let sector in 2006 and 2007.

Howard Archer of forecaster IHS said: "The recent more variable news on the housing market may ease some concern that a bubble is developing. The recently introduced stronger rules on mortgage lending may well have a containing impact - but it is still a significant danger that policymakers must monitor closely."

The CML figures also showed an increase in the number of first-time buyers - up by 34 per cent compared to March last year.ADNFCR-1222-ID-801722990-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.