Buy-to-let market experienced growth in Q2

by Sarah Ashcroft

Growth was seen in the buy-to-let market during the second quarter of 2011, latest figures from the Council of Mortgage Lenders (CML) show.

As demand for tenancy agreements continues to rise throughout the UK, the statistics showed that the value of loans taken out between April and June totalled £3.5 billion, marking the highest value since the last quarter of 2008.

Also for the first time since 2008, arrears rates for buy-to-let mortgage products were lower than in the owner-occupied sector.

CML director-general Paul Smee commented: "It appears that first-time buyers are not being displaced by buy-to-let landlords but are holding their own in a restricted market."

This follows results of a Paragon survey, which showed that optimism is starting to be restored among landlords.

Many revealed that they are planning to expand their property portfolios at some point during the next 12 months.

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Published on: August 11, 2011

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