LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Buy to let mortgages: steady rise year-on-year

Buy to let mortgages: steady rise year-on-year

There were 15,900 buy to let loans in February, down 13% compared to January but up 11% on the total a year earlier, according to the Council of Mortgage Lenders.

These loans totalled £2.2 billion in lending, down 12% from January this year but 16% above the amount loaned in February 2014.
 
It was the same trend with buy-to-let remortgaging, which fell 19% in February from January to 8,400, but this was an increase of 23% on February 2014.
 
The value of these loans totalled £1.3 billion - a whopping 31% up on last February.
 
“Buy-to-let, in contrast, has shown year-on-year lending increases, due almost completely to remortgaging which is typically strong in the buy-to-let market,” said Paul Smee, director general of the CML.

"We this month launched the CML buy-to-let statement of practice which reflects what responsible lenders already do and offers a clear explanation of how buy-to-let lenders operate. We hope it will help in people's understanding of the buy-to-let lending environment and the transparency of the statement of practice can give confidence to landlords that clear and consistent lending policies are being undertaken.”