Number of buy-to-let properties increases by 84,000 in 2011
The number of properties being bought with buy-to-let mortgages increased to 84,000 in 2011, according to data from the Council of Mortgage Lenders.
During the fourth quarter of 2011, a total of 34,800 buy-to-let mortgages were advanced with a total value of £4bn.
Paul Smee, director-general of the CML, says: “Buy-to-let continues to perform well. Demand for rented property remains high, so the rationale for buy-to-let remains strong and there is little reason to foresee any change to this positive outlook for the sector.â€
Buy-to-let mortgages account for nearly 13% of the total outstanding value of mortgages in the UK.
February 10, 2012
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