Buy-to-let borrowing sets new records
Buy-to-let borrowing sets new records
- 2006
- CML Press Release 16 August 2006 .
Buy-to-let borrowing set a new record in the first half of 2006 with lenders advancing 152 500 loans worth £17.5bn, representing a 17% increase by volume and 20% by value over the totals posted in the second half of 2005, the previous record. The total number of residential buy-to-let mortgages in the UK has reached 767 000 valued at £83.9bn. The residential investment mortgage market now accounts for 8% of the value of the outstanding UK lending compared to 7% in the first half of 2005. There are now 11.6m mortgages in the UK worth more than £1trillion. The proportion of buy-to-let mortgages in arrears of three months or more rose from 0.68% of the stock to 0.73% in the first half of 2006.
United Kingdom--
Buy-to-let borrowing set a new record in the first half of 2006 with lenders advancing 152 500 loans worth £17.5bn, representing a 17% increase by volume and 20% by value over the totals posted in the second half of 2005, the previous record. The total number of residential buy-to-let mortgages in the UK has reached 767 000 valued at £83.9bn. The residential investment mortgage market now accounts for 8% of the value of the outstanding UK lending compared to 7% in the first half of 2005. There are now 11.6m mortgages in the UK worth more than £1trillion. The proportion of buy-to-let mortgages in arrears of three months or more rose from 0.68% of the stock to 0.73% in the first half of 2006.
United Kingdom--