Buy-to-let mortgages on the rise again
Demand for properties to rent in the private sector have led to
landlords being able to charge a record-high level of monthly
payments in the last few months, and this is causing more to take
advantage of the upward trend by buying more houses.
The Council of Mortgage Lenders (CML) has said that there are now
more people coming into the market, and that buy-to-let mortgages
have gone up by eight per cent in the last quarter, with lenders
having approved £4.2 billion's worth.
However, while this is good news, as is the 19 per cent increase in
the last year, the market still has a long way to go to reach full
health, with lending still only a third of what it was when the
credit crunch hit in 2007.
CML director general Paul Smee said: "Buy-to-let lending is
continuing to recover, and to grow in line with expectations. As
well as continuing to fund owner-occupation, lenders are
contributing to the expansion of a strongly growing rental