11
Feb
Buy-to-let mortgage market picks up, new figures show
The buy-to-let mortgage market experienced growth in the final
quarter of 2009, new figures from the Council of Mortgage Lenders
(CML) show.
Data released by the organisation revealed that there were 25,800
new buy-to-let loans advanced in the final three months of 2009,
compared with 23,700 in the previous quarter.
It also noted that all types of buy-to-let lending increased in the
period, with the rate of new house purchase loans double that of
the number requested for remortgaging.
According to the CML, the number of landlords in arrears has
dropped considerably compared with the same timeframe in
2008.
Simon Gordon, head of communications at the National Landlords
Association (NLA), welcomed the news, commenting that the latest
report "demonstrates the resilience of the market".
"Clearly, the figures suggest the buy-to-let market is far more
robust than originally feared," he added.
Mr Gordon also stated that the strength of the sector should
encourage the government to review its policy relating to
regulation in the industry, with the NLA calling for greater
efforts to be focused on increasing credit flows.