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Buy-to-let holds 9% of market
19/02/2007
A total of nine per cent of mortgages are held in the buy-to-let market, the Council of Mortgage Lenders (CML) reveals.
The figure represents a one per cent rise on data recorded in 2005, suggesting buy-to-let investments are increasing.
And the market was worth £38.4 billion in 2006, data from the CML indicates, with some 330,000 buy-to-let mortgages taken out last year.
The percentage of arrears on the loans is lower than for the mortgage market in general, standing at 0.59 per cent in December, compared to 0.89 per cent for the whole market.
"The buy-to-let market has performed even more strongly than the wider market over the course of 2006," commented Michael Coogan, CML director general.
"With evidence from other sources of strong tenant demand, rising rents and falling void periods, buy-to-let looks set to continue to remain popular and successful."
The figure represents a one per cent rise on data recorded in 2005, suggesting buy-to-let investments are increasing.
And the market was worth £38.4 billion in 2006, data from the CML indicates, with some 330,000 buy-to-let mortgages taken out last year.
The percentage of arrears on the loans is lower than for the mortgage market in general, standing at 0.59 per cent in December, compared to 0.89 per cent for the whole market.
"The buy-to-let market has performed even more strongly than the wider market over the course of 2006," commented Michael Coogan, CML director general.
"With evidence from other sources of strong tenant demand, rising rents and falling void periods, buy-to-let looks set to continue to remain popular and successful."