Buy-To-Let Market Still Buoyant

Common indexes used for Adjustable Rate Mortga...
Image via Wikipedia

The buy-to-let property market is still thriving according to the Council of Mortgage Lenders (CML).

The number of buy-to-let loans rose by 23% last year, taking their number to 1,038.000 and accounting for 10.3% of all outstanding mortgages. This lending picked up in the second half of the year at a time when general mortgages lending was falling.

Michael Coogan, the CML’s Director General, said, “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. Demand from landlords had been resilient despite problems at some lenders like Northern Rock. Many buy-to-let loans have interest rates linked to interbank rates and so many have seen hefty increases in payments when Libor rose to abnormally high levels in the second half of 2007. These are now likely to be returning to lower levels in line with the reduction in Libor rates since December last year.”

Tim Hague of the buy-to-let mortgage lender Birmingham Midshires said, “With demand continuing to be in demand due to socio-economic factors such as rising immigration, many experts are predicting that this market will continue to be buoyant in the next few months of 2008.

Editor: Simon Weston myfirsthomeltd.co.uk

Email: simon.weston@myfirsthomeltd.com.

  • Mortgage industry cuts forecast for UK reposessions (telegraph.co.uk)


Bitcoin: 1BJbBAvdNHcZPZBnaFpyExUmAD9H1crosU


Litecoin:LXfkhyMe8gxdENyUc7Y5itHzFqr67F96nW

Or…

If you enjoyed this article FEEL Free to TIP My First Home Blog:


Any Amount Welcome 🙂


Dash: XmARRjJ9y2zUUgiPWPMrjviWWCvpuogwKd


Dogecoin: D5vAJ9ydfsNX1VE6e93Wh16gmUfVSUSKQq


Bitcoin: 1BJbBAvdNHcZPZBnaFpyExUmAD9H1crosU


Bitcoin Cash: 1Q8njMG4LPqFYthtNu6rq2Rbq9JqKXaPg1


Ethereum: 0x60454606e1f66C09e4fD7977b844718b683B2836

{ 0 comments… add one }

Connect with Facebook

Leave a Comment


x

Related Posts

Get The Most For Your Money When Buying Real Estate (Real Estate Buying)
Get The Most For Your Money When Buying Real Estate (Real Estate Buying)If you want information concerning purchasing real estate, you've come to...
Real Estate Strategies To Follow When Buying A Home (Real Estate Buying)
Real Estate Strategies To Follow When Buying A Home (Real Estate Buying) - The purchase of a piece of real estate can be a large step in anyone's...
You Can Find A Real Estate Agent To Help You Buy A Home Online
You Can Find A Real Estate Agent To Help You Buy A Home Online - Purchasing a piece of real estate can be a large decision, particularly if a buy...
powered by RelatedPosts