Buy-to-let mortgage lending figures remain stable

by Aaron Strutt

Jan 17 2014

The banks and building societies provided 16,200 buy-to-let mortgages in October and November totalling £2.1bn, according to figures from the Council of Mortgage Lenders (CML).

The number of buy-to-let mortgages for house purchases decreased slightly in November to 8,400, down 1.2% compared to October. Although, the number of buy-to-let landlords remortgaging increased slightly in November to 7,700 loans. This is up 1.3% compared to October.

Trinity Financial told the BBC that: “Many of the banks and building societies are planning to ramp up their buy-to-let lending this year and some of the rates are not much higher than the residential deals.”

A host of the banks have improved their rates in recent weeks including NatWest and BM Solutions. One of the building societies has a buy-to-let tracker rate at 1.99% although it does have a 2.5% arrangement fee.

January 17, 2014