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Landlord and Tenant News: Buy to let mortgage borrowings rose by 84,000 last year
Last year saw a 84,000 rise in the number of properties bought using buy to let mortgages than in 2010.
Figures from the Council of Mortgage Lenders (CML) show that in the last three months of 2011 alone, landlords advanced a total of 34,800 buy to mortgages, with a total value of more than £4 billion.
This means that buy to let lending now accounts for almost 13 per cent of the total outstanding value of mortgages in the UK.
"Buy-to-let lending continues to perform well," CML director general Paul Smee said.
"Demand for rented property remains high, so the rationale for buy-to-let remains strong, and there is little reason to foresee any change to this positive outlook for the sector."
And the numbers are unlikely to let up this year.
Currently there are more buy to let mortgage products available than at any time since the onset of the financial downturn and specialist lender Paragon recently referred to 2012 as being 'a boom time for landlords'.
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