Buy-to-let lending rises


Tue 26th Feb, 11:50:48 GMT

Buy-to-let lending increased in the final six months of last year, according to the latest figures.

The Council of Mortgage Lenders (CML) has revealed that lending increased on the figure for the first half of the year and the last half of 2006.

According to the organisation, total buy-to-let lending reached £24.1 billion, with a total of 179,100 loans being approved.

It is a clear sign that the UK buy-to-let market remains strong and Michael Coogan from the CML is confident about the future prospects for the market.

"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 organisation''s managing director.

"Buy-to-let has remained resilient in the face of the funding constraints that have affected the sector and the wider mortgage market.

"We expect to see a continuing healthy appetite for buy-to-let finance this year, in line with continuing expected consumer demand for private rental property," continued Mr Coogan.ADNFCR-1143-ID-18483145-ADNFCR


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