Buy-to-let lending up 56% year-on-year
The number of buy-to-let mortgages advanced in March was up 56% year-on-year, according to the Council of Mortgage Lenders (CML). The value of these loans totalled £2.2bn, up by 69% compared to March 2013.
Buy-to-let remortgage lending saw the most substantial upward trend increasing month-on-month to 8,000 loans, up 13% in volume compared to February and up 67% compared to March 2013. These buy-to-let remortgages had a total value of £1.2bn.
Paul Smee, director general of the CML, said: “All types of lending show positive year-on-year growth but the rate of increase is not as frenetic as at the end of 2013. Buy-to-let lending continues to recover and regain market share.”
May 16, 2014
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