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C M L : B T L Bouyant As Lending Soars In Sector

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Buy-to-let landlords keep mortgage market afloat

Hilary "Hills" Osborne
Tuesday October 9, 2007
Guardian Unlimited
Buy-to-let lending has been consistently higher this year.
Mortgage lending in August reached £34bn, buoyed by heavy demand from landlords, figures showed today.
Total lending was £1bn higher than in August despite an 11% fall in the value of lending for house purchases and a 12% fall in remortgages, the Council of Mortgage Lenders (CML) said.
Other lending, which primarily covers buy-to-let loans, was 37% higher than in the same period last year and has been consistently higher throughout the year.
The CML said
increasing house prices, tenant demand, rent increases and landlords' willingness to make long-term investment decisions had all underpinned strong demand from property investors.


The figures, which cover a period
before the problems at Northern Rock emerged
, showed that compared with July the number of home loans was up 5% to 99,000, while the number of remortgages was down 5% to 88,000.

Why print it if its already out of date? :blink:

Edited by Realistbear

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