Buy-to-let lending has increased

Posted: 12 Nov 2010 10:27:12 GMT

Buy-to-let lending has risen during the third quarter of this year, a new report has revealed.

People planning to rent a property may find there are more dwellings to choose from, as new figures have revealed buy-to-let lending increased by 12 per cent during the third quarter of this year.

According to the Council of Mortgage Lenders (CML), there were 26,900 of this type of loan advanced in the period.

The volume of lending was up 14 per cent compared to the same time frame in 2009 and the organisation predicted demand for buy-to-let abodes is likely to increase, as many first-time buyers are finding it difficult to get on the property ladder.

Director general at the CML Michael Coogan questioned whether there will be sufficient supply to meet the needs of tenants, due to the fact buy-to-let lenders diminished in 2007 after the credit crunch.

Earlier this week, Paul Shamplina, founder of Landlord Action, advised proprietors to install security measures in their dwellings in order to prevent squatters from moving in.
 

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