News

LETTINGS NEWS: Sharp increase in buy to let mortgages

20/04/15

There’s been a steep rise in the number of buy to let mortgages offered to existing and new landlords by lenders – and that’s before the expected surge from investors taking advantage of their pension pots to buy property to let out.

The Council of Mortgage Lenders says that while loans to first time buyers and existing home owners are both down, as is often the case in the build up to a general election, the number of buy to let mortgages is rising.

There were 18,200 buy to let loans in January – the latest monthly figure available – which is six per cent up on the December total and 12 per cent up on the same month a year earlier.

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