Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.

According to the Council of Mortgage Lenders (CML) 40,000 buy-to-let mortgages, worth £5.1 billion, were advanced to investors in the second quarter of 2013.

Figures show that in terms of the number of Buy-to-let loans, and the total value of lending, were the highest since the third quarter of 2008.

Along with the UK economy in general it seems that Buy-to-let lending is continuing to recover strongly, but from a low base.

According to CML figures the number of loans advanced in the second quarter was 19% higher by volume and 21% higher by value than the 1st quarter.

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Year-to-date that means that buy-to-let lending is up 19% by volume and 31% by value.

Lending for the purchase of investment properties accounted for around half the Buy-to-let loans advanced, increasing by 15% by volume and 19% by value over the preceding quarter. However, the main growth was in remortgaging, with an increase over the same period of 24% by volume and 29% by value.

This growth in remortgaging appears to reflect improving conditions in the funding markets and easier availability of mortgage credit.

Mortgages in arrears in the Buy-to-let market over the three months of quarter two accounted for 8.4% of the total. This was up slightly from 8.3% in the preceding quarter but down from 9.7% a year earlier.

The re-possession rate, at 0.09% for Buy-to-let was slightly higher than the 0.07% in the wider owner occupied mortgage market, but fell back from 0.11% in quarter one 2013.

A spokes person from CML attributed the growth to strong rental demand and improvements in the funding market generally with mortgage availability more widespread. This is helping landlords to re-mortgage and also to invest more money to grow their existing portfolios.

The Ministry of Justice’s Mortgage and landlord possession statistics Q2 2013 can be found on the Ministry of Justice website. This includes Quarterly National Statistics on possession claim actions in county courts by mortgage lenders and social and private landlords.

Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.
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