Buy To Let Funding On The Increase
Posted on 15th November 2011
The Council of Mortgage Lenders (CML) has stated that the number of home loans in the UK has seen an increase in the third quarter of 2011.
The data published reveals significant growth, as a reported 16% rise was seen in loans for a buy-to-let property over the last 3 months. It is estimated that a total of 34,500 buy to let loans were advanced, which is an increase from the 29,700 recorded in the prior quarter.
Paul Smee, CML Director General, commented: "With tenant demand remaining strong in the rental sector, some existing buy to let landlords have been expanding their portfolios and the growth that returned to the sector". The supply and choice in the current rental market have been improved since the weakened levels seen in 2009