Buy To Let Updated:
The buy-to-let mortgage sector appears to be going from strength to strength as increased demand in the rental sector fuels the market.
Latest figures from the Council of Mortgage Lenders (CML) have revealed total buy-to-let lending increased by 5% over the second quarter of this year.
Loans totalling £3.9 billion were issued to buy-to-let customers during April, May and June, up from the £3.7 billion in the first quarter.
The volume of buy-to-let mortgages issued to borrowers increased year-on-year by 14% from 29,100, whilst buy-to-let loan amounts also rose by 18%.
Many people, particularly first-time buyers, are turning to rented accommodation as strict lending requirements, high rates and a lack of affordable, small deposit mortgage products continue to hinder prospective buyers.
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