News from the Council of Mortgage Lenders today is that loans to buy-to-let investors were up 16% in the last quarter compared to the period previously.
Landlords have stopped buying of late due to uncertainty over property prices and somewhat restricted funding. But these latest numbers show that the appetite for professional property investment is returning with vigour and, so it seems, mortgage lending is more freely available now to this sector.
During July, August and September, 34,500 landlord loans were made totalling £3.8 billion, up from 29,700 advances over April, May and June.
Landlords in arrears dropped by 7% also.
Countrywide Lettings have also reported today that tenant demand for rental property increased by 10.8% in the three months to the end of September. It’s 1300 branches said that viewing levels increased by 8.3% and that the average property was let in just 12.7 days.
No wonder landlords are swiftly returning to the market.