The Current Buy To Let Market
There is no denying that, the buy to let market has suffered since the global economic collapse of the banking and financial sectors in 2008. Things have remained stagnant for the past four years, but there may be signs that, things might be improving with year on year figures showing slight growth in particular areas.
New quarterly figures for the buy to let market in 2012 show that, nearly £4 billion pounds has been borrowed from the banks and financial lending institutions against these type of property purchases which equates to over 32,000 different loans. This is down by approximately 5% from the last quarter of 2011, but is a vast improvement on the same period last year with an increase of over 30%.
Statistical figures should that the average amount borrowed against the property price for buy to let mortgages remains at approximately 75% with the average rental cover in excess of 125% of the property payments and has been roughly at the same level for the past three to four years according to the Council of Mortgage Lenders (CML).
Read the full story at The Mortgage Broker
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