Knowledge Centre
26th February 2008
Private landlords withstand credit crunch
The buy-to-let sector is outperforming the rest of the troubled mortgage market, according to the latest survey by the Council of Mortgage Lenders (CML).
Figures released today show that private landlords borrowed more in the second half of 2007 than in the previous six months, with lending rising from £21.2 billion to £24.1 billion.
The number of current buy-to-let mortgages also exceeded one million for the first time, ending the year at 1,038,000.
"Tenant demand for private rented property remains strong, and buy-to-let is fulfilling an important role in helping to deliver an increased flow of high quality homes to rent," said the CML's director-general Michael Coogan.
Pointing out that buy-to-let mortgages often track the rate at which banks lend to one another – the Libor rate, which eased considerably at the end of last year – he predicted that there would be a "healthy appetite" for buy-to-let finance this year.
Figures released today show that private landlords borrowed more in the second half of 2007 than in the previous six months, with lending rising from £21.2 billion to £24.1 billion.
The number of current buy-to-let mortgages also exceeded one million for the first time, ending the year at 1,038,000.
"Tenant demand for private rented property remains strong, and buy-to-let is fulfilling an important role in helping to deliver an increased flow of high quality homes to rent," said the CML's director-general Michael Coogan.
Pointing out that buy-to-let mortgages often track the rate at which banks lend to one another – the Libor rate, which eased considerably at the end of last year – he predicted that there would be a "healthy appetite" for buy-to-let finance this year.
Post to:
What are these?
No comments have been published yet.
- 20th January 2011 Unemployment figures hit 2.5 million
- 14th January 2011 Government 'must introduce fuel duty stabiliser'
- 7th January 2011 FSB call 'to reverse VAT rise'
Site by Acknowledgement