You are here: Home - Mortgages - Buy To Let - News -

Buy-to-let mortgage lending up 69% year-on-year

0
Written by:
15/05/2014
Buy-to-let mortgage lending soared by 69 per cent year-on-year in March to reach a total value of £2.2bn, figures from the Council of Mortgage Lenders (CML) reveal.

Some 16,200 loans were advanced in March, up 56 per cent compared to the previous year signifying lending appetite and landlord opportunities in the private rental sector showed no signs of abating.

Broken down by transaction type, house purchase loans in March increased by 46 per cent year-on-year totaling £960m – a 60 per cent rise compared to March 2013.

But remortgage lending saw the most substantial upward trend with a 67 per cent increase in loans compared to March 2013.

These buy-to-let remortgages had a total value of £1.2bn up 73 per cent year-on-year.

Several lenders have loosened their buy-to-let criteria since the start of the year as a way of keeping lending volumes up as the Mortgage Market Review slows down lending in the regulated residential market.

 

 

 

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and the fresh round of walkouts take place tod...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week