Buy-To-Let Lending Increases

Lending in the buy-to-let market increased by 5% in the second quarter, new figures reveal.  The data published by the Council of Mortgage Lenders (CML) shows there were 33,200 buy-to-let loans in the three months to June, up from 32,300 in the first quarter.  The figures are also up by 14% year-on-year: there were only 29,100 loans in the second quarter of 2011.  Growth in buy-to-let lending was evenly split between loans for house purchase and remortgaging, with both showing a 3% increase by volume over the first quarter. Year-on-year, lending for house purchase has grown more strongly - up 17% by volume and 21% by value - than remortgaging - up 10% by volume and 15% by value. Read more on the CML website.