Buy-to-let mortgages market improving

The Council of Mortgage Lenders (CML)  noted a 16% increase in the number of new buy-to-let loans in the third quarter of 2011. It is a continuation of the pick-up in buy-to-let lending that began in the second quarter of this year. According to data published today the value of buy-to-let mortgages improved in the sector grew by 19%.

In the three months to September buy-to-let lending was at the highest level since the final quarter or 2008 with the total of loans increase from 29 700 in the preceding quarter to 34 500 and value of lending totalled from £3.2 billion to £3.8 billion. There is also a noticeable growth in the number and value of outstanding buy-to-let loans. In September 2010 there were 1,296,700 loans outstanding worth £150 billion and 12 months later it went up to 1,378,700 worth £157 billion. Read more of this post