The latest figures published by the Council Mortgage Lenders(CML) have indicated that lending to landlords is on the increase and at its highest since the third quarter of 2008. Overall, the number of loans advanced in Q2 increased by 19% in volume and 21% in value when compared with the preceding 3 months. These results are further reinforced when we consider the year on year 31% increase in value and 19% increase in volume in the buy to let market.
Jackie Bennett from the CML has said “Strong rental demand is contributing to the continuing expansion of the buy to let sector, but growth is also being helped by improved conditions in funding marked and more widespread availability of mortgages. These conditions are creating more opportunities for landlords to remortgage, as well as helping to fund increased activity in the mortgage market more generally.”
If you would like to have a chat about the current market, or have any questions about how to invest in property, give one of our local in branch specialists a call. We will be happy to help.