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21st February 2014
According to figures from the Council for Mortgage Lenders, buy-to-let lending for house purchases increased by 18.6% in 2013.
The last quarter of the year also saw buy-to-let lending rise 20% compared with 2012 despite a seasonal dip in December. Separate figures from BM Solutions/BDRC Continental Landlord Panel show landlords in the UK are seeking to expand their portfolios, with a third aiming to do so in the next year. Around 80% of landlords are able to make a profitable full-time living from their letting activity, the panel showed. In response more lenders are re-entering the market with competitive deals. George Spencer, CEO of Rentify, said it was "encouraging" that the range of products for larger loan-to-value advances was expanding.