More than 33,000 buy-to-let loans issued in second quarter

 

Buy-to-let lending is once again on the up, with more than 33,000 loans being handed out in the second quarter of the year.

According to statistics from the Council of Mortgage Lenders (CML), lenders have released an estimated £3.9 billion for to landlords to invest in rental properties.

According to thisismoney.co.uk, the amount of loans handed out has increased by 17 per cent since this time last year and 49 per cent since the start of 2010.

These figures would suggest a subsequent rise in demand for landlord services in the near future. After all, many property investors find themselves too busy undertake duties such as tenant finding and property maintenance.

With an increased supply of rental properties appearing on the market, landlords might be keener than ever to advertise property using the help of professionals as well.

In an interview with mortgagefinancegazette.com, SPF Private Clients chief executive, Mark Harris, predicted that this increased activity would continue throughout 2012.

He said: "While capital growth on investment properties are likely to remain subdued for some time to come, income is strong and returns favourable when compared with other investments. Buy-to-let is only going to grow in popularity as more lenders return to the market, and rates and criteria become increasingly competitive."  

Author: Properties ABC