Buy-to-let market 'picking up'
Recent figures from the Council of Mortgage Lenders (CML) indicate the buy-to-let sector is beginning to pick up again after a number of months of downturn, according to the Association of Residential Letting Agents (ARLA).
Last week the mortgage body suggested that there had been something of a stabilisation witnessed in buy-to-let due to a slowdown in the decline in lending.
Apparently, some 21,600 new buy-to-let loans were advanced in the second quarter of the year.
In a statement following the release of the data, ARLA said: "This news from the CML, whilst not unexpected, is nonetheless confirmation that things are starting to pick up for buy-to-let investors."
Arrears were also down during the period, which is positive news for those in property to rent in Camden and flats to rent in other parts of London and the UK because tenants are at risk of homelessness if they cannot pay the rent.
Further stimulation in the buy-to-let sector would be caused by an increase in responsible mortgage lending from banking institutions, ARLA added.
Written Ben Carter
Published 17th August, 2009
© 2009 Estates IT Limited
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