Buy to let mortgage lending up 32 per cent on 2011.
The buy to let mortgage boom continues. It has recently been revealed that lending in this sector is up 32 per cent on last year as investors rush to add to their portfolios while rates remain low.
New buy to let mortgage lending for Q1 of 2012 accounted for 32,300 mortgages approved according to the CML.
Landlords are capitalising on mortgage restrictions to other sectors of the mortgage market as some would-be buyers and in particular first time buyers, struggle to get a foot on the property ladder. Many are now trapped in accommodation which is both increasing demand and pushing up rental yield which is good news for investors.
Findaproperty.com figures reveal rental prices for flats have increased on average by 7 per cent in just one year. The buy to let mortgage market share continues to increase with around 13 per cent of the all outstanding mortgages being for investment purposes.
Despite the resurgence of buy to let, figures reveals that lending in this sector remains at around one third of the lending levels recorded for this sector prior to the credit crisis. However popularity and demand for buy to let mortgages is increasing as the private rental sector becomes a more attractive investment.
If you are looking at property investment and would like to source a competitive buy to let mortgage contact Deal Direct.
