Expect more, earn more, be more

Call us on 01244 421 261

Continued Growth In Buy To Let Mortgages

Posted by on September 4, 2013


The buy to let mortgage market is progressing and the most recent Council of Mortgage Lenders Market Commentary confirms continued growth within this sector.

Don’t forget our specialist Landlord Buildings & Contents Insurance policy. We can provide our policies to financial and mortgage advisers as well as letting agents. If you’d like to find out more please give us a call on 0845 478 4988.

The following headlines are taken from the Council of Mortgage Lenders Market Commentary for 2013:

  • A strong second quarter brought the total lending for the first half of the year to £9.3 billion, an increase of 22% compared to the same period last year.
  • A significant driver of this growth has been re-mortgage lending. In total in the first 6 months of the year BTL re-mortgage lending was 24% higher than the same period last year.
  • Lending for BTL ‘house purchases’ also increased by 17% on the same period last year.
  • House purchase activity in the second quarter of 2013 was the strongest since the fourth quarter of 2007.
  • This signals that the recent growth in the market looks set to continue. Our forward estimate is that gross lending increased further in July – to £16.6 billion, the strongest single month since the autumn of 2008.

 

Source: http://www.cml.org.uk/cml/publications/marketcommentary.

Share this story:



© 2017 Let Alliance Ltd.