Buy to let mortgages are on the up. 9% of overall home loans are buy to let mortgages, so the Council of Mortgage Lenders (CML) has shown.
This was 8% in 2005, highlighting that buy to let investment is increasing.
There were approximately 330,000 buy to let mortgages taken out during 2006, worth £38.4 bn.
Presently, there are have been about 850,000 buy to let mortgage loans taken out. Those in arrears over three months have dropped from 0.64% by June 2006 to finish at 0.59% by December. This is of course below the 0.89% for the whole mortgage market.
The buy to let market has been more strong than the wider market during 2006. Given strong tenant demand, increasing rents and decreasing void periods, buy to let looks like it is going to continue to be popular and successful.
Alliance &Leicester confirmed that the figures are "encouraging" as over 50% of the buy to let lending in 2006 related to new investment property purchase as opposed to remortgaging .
The second half of 2006 saw a 20% increase in the buy to let sector compared with the first half.
Paragon Group, a buy to let mortgage specialist, was also positive about the future of buy to let given the new figures.
 |
| Property Guides |
Buying property |
| Find Property in the UK |
| My estateagents | |||||
|
Nearly 10 per cent of Mortgages Buy to Let
Wed, 14 Feb 2007
Recommended links
Buy to Let Success SecretsInvestment Property Not Financed Well
First time buyers buy now
First Time Buyers Spend Over GBP 150,000
House Prices Increase Again
| Bookmark: |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| Estate Agents news |
|---|
| Empty Home Numbers Down in England - Wed, 05 Dec 2007 |
| Buying Supercedes Renting to the Tune of 5,000 GBP - Wed, 21 Nov 2007 |
| Surveyors begin to see house prices fall in England and Wales - Wed, 14 Nov 2007 |
| More News |
