14-08-2007
Buy-to-let mortgage market remains strong
The performance of the UK's buy-to-let mortgage market continues to show strength, new data has revealed.
According to figures released by the Council of Mortgage Lenders (CML), borrowing within the buy-to-let mortgage sector now represents ten per cent of the total UK borrowing on housing.
"A strong rental market, in which landlords are reporting rising rents and shorter void periods, helped ensure that buy-to-let arrears remained lower than in the wider mortgage market," said the CML.
The prevalence of buy-to-let mortgages contrasts with 2002, when they represented three per cent of the total number of mortgages. Indeed, over the first half of this year, a total of 171,800 buy-to-let mortgages have been agreed, bringing the total number of outstanding loans to 938,500 by the end of June 2007.
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