Buy to let market experiences Q3 growth

Posted: 10 Nov 2011 12:32:49 GMT

The number of new buy to let loans in the third quarter of 2011 upped by 16 per cent.

The buy to let mortgage market in the UK experienced significant growth across the third quarter of 2011, new research has shown.

Published by the Council of Mortgage Lenders, the data revealed home loans increased in number by 16 per cent in the three-month period.

According to the findings, the value of these agreements advanced in the sector leapt by 19 per cent, indicating a continuation of the pick-up in lending witnessed in quarter two.

Paul Smee, director general at the CML - whose members make up almost 95 per cent of UK residential mortgage lending - said: "With tenant demand remaining strong in the rental sector, some existing buy to let landlords have been expanding their portfolios."

He added this escalation has helped improve supply and choice in the rental market from the diminished levels seen in 2009, yet buy to let numbers are still considerably lower than their former peaks.
 

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