May 19, 2011 | 
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Buy to Let lending Stable
The
However this was up against the 1st quarter of 2010 by nearly 25% and represented 28,600 loans of total value at £3 billion.
Commenting on the buy-to-let market, CML director general Michael Coogan said:
“Buy-to-let continues to progress positively in the context of a stable, but still low-volume, overall market. Demand for rental property remains strong, and as more funding becomes available we would expect to see buy-to-let lending increasing.
The performance of buy-to-let loans is also holding up well, and the differential between arrears rates in the buy-to-let sector and the owner-occupier sector has narrowed substantially so that there is now only a modest difference between them.”
Arrears
The arrears rate of the buy to let sector is becoming increasingly similar to the owner-occupier sector, with 3-month arrears rate at 1.62% where no receiver of rent (i.e. tenant) in place and 2.24% otherwsie.
Repossesions
Interestingly the repossesions in the BTL sector remained higher than the mainstream – 0.13% of loans. This is no suprise as lenders continue to try to ensure owner occupiers can remain in their homes.
To read the full CML press release visit: http://www.cml.org.uk/cml/media/press/2916
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Categories: News |
Tags: BTL, Buy To Let, buy to let lending, CML, Council of Mortgage Lenders, lenders, mortgage, Mortgage Lending, Rent, Rental | 
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