Buy-to-let mortgage lending up in July

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Buy-to-let mortgage lending has continued to follow an upward trend, similar to the market overall. There were 15,200 buy-to-let loans advanced in July representing an increase of 12% compared to June. This is the equivalent value of £2bn which was 11% higher than in June, according to the Council of Mortgage Lenders. Lending for buy-to-let house purchases was up 7% in July compared to June and a total of 7,600 mortgages were advanced. The value of these loans was £900m, up 13% from June. For borrowers looking for a longer term fixed rate, Virgin Money for Intermediaries has a five-year fix at 3.89% and it has a £2,495 arrangement fee. The mortgage is available up to £1 million and the lender provided £750 cash back on completion. NatWest for Intermediaries has one of the lowest two-year fixes at 3.39% and it has £1,495 arrangement fee. The lender requires at 40% deposit. September 13, 2013
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