Landlord lending rises

Posted: 26 Feb 2008 11:14:32 GMT

Buy-to-let mortgage lending rose in the second half of 2007, according to the latest figures from the Council of Mortgage Lenders (CML).

Buy-to-let mortgage lending rose in the second half of 2007, according to the latest figures from the Council of Mortgage Lenders (CML).

The organisation has revealed that buy-to-let lending hit £24.1 billion in the final six months of last year.

That is up on the £21.2 billion which was lent in the first half of the year and the £20.8 billion figure from the second half of 2006.

The total number of loans reached 179,100, an increase on the 171,800 from the first six months of 2007 and the 177,200 which were lent in the previous year.

"Tenant demand for private rented property remains strong, and buy-to-let is fulfilling an important role in helping to deliver an increased flow of high quality homes to rent," said Michael Coogan, director general of the CML.

"Buy-to-let has remained resilient in the face of the funding constraints that have affected the sector and the wider mortgage market.

"We expect to see a continuing healthy appetite for buy-to-let finance this year, in line with continuing expected consumer demand for private rental property," he continued.

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