CML buy-to-let figures released
News Category: Industry News
Published: 18-May-2009
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The Council of Mortgage Lenders (CML) has released its latest buy-to-let lending figures, which give some indication about the strength of the lettings market at the start of 2009.
Official statistics show that there were 22,400 new buy-to-let mortgages advanced in the first quarter of 2009.
According to the CML, the outstanding buy-to-let home loans at this stage of the year totalled 1,155,200.
Buy-to-let activity accounted for six per cent of overall mortgage lending during the three months, which was 12 per cent down on the figure reported one year before.
Property Hawk website editor Chris Horne recently suggested that demand for buy-to-let properties remained strong, but lenders have been less inclined to provide the finance in the last 12 months.
CML director general Michael Coogan remarked: "In the wake of the Rugg Review and the government's recent commitments to strengthen the private rented sector, buy-to-let will continue to fulfil an important role."
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