12 Nov

Buy to let lending saw surge in Q3

Buy to let lending saw surge in Q3

People looking to become landlords will be pleased to hear that buy to let lending rose in the third quarter of 2010.

According to a report released by the Council of Mortgage Lenders yesterday (November 11th 2010), buy to let lending increased by 12 per cent during Q3.

It revealed that during this three-month period, there were 26,900 buy to let loans advanced, amounting to a total of £2.8 billion.

This increase represents the second consecutive quarter that buy to let lending has risen.

Potential landlords who have been waiting to see signs of recovery in the property market are also likely to be relieved to hear that these figures show the volume of lending was up 14 per cent on figures from the third quarter of 2009.

Research also revealed that the value had increased by 33 per cent from £2.1 billion during this 12-month period.

Earlier this week, Upad reported that 54 per cent of landlords are more confident about the rental sector in November than they were last month. ADNFCR-1222-ID-800233611-ADNFCR

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