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Buy to let mortgages still on the rise

26/02/2008

A recent survey carried out proved that Buy to Let Mortgages increased towards the second half of 2007; new data has just been released.

Figures from the Council of Mortgage Lenders (CML) have shown that the amount of loans together with both remortgages and buy to let during 2007 summed up to 179,100, this an increase compared with 171,800 towards the start of 2007.

After analysing facts and figures, it has shown that the buy to let sector is increasing regardless of the credit crunch conditions.

Director general Michael Coogan, commented: "Buy to let has remained resilient in the face of the funding constraints that have affected the sector and the wider mortgage market. I expect to see a increase healthy appetite for this form of lending in 2008."

Personal finance writer Conal Gregory, Yorkshire Post stated that depressed demand for residential mortgages presented the outlook of more demand for rental property. Landlords have been overwhelmed by the good news and feel investing in the buy to let sector is still a reward able investment.

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