Buy-to-let mortgages up by a third

CML figures show buy-to-let loans in quarter one of 2012 were up by 32% annually, while repossessions have steadied.

The value of mortgages taken out to fund buy-to-let purchases rose by a third year-on-year to the first three months of 2012, as falling house prices and rising rents made the sector attractive to investors.

Some 32,300 loans worth a combined total of £3.7bn were advanced to buy-to-let borrowers, according to figures from the Council of Mortgage Lenders (CML). The value was 5% down on the final three months of 2011, but 32% higher than in the opening three months of the year. However, it remains at about a third of 2007’s levels.

Read the full story at The Guardian

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