Buy-to-let lending at 6 year high

12th December 2014

According to the Bank of England, buy-to-let lending rose to £8bn in the third quarter, the highest quarterly amount since 2008 and up from £5.9bn for the same period last year. The growth also contributed to the quarterly rise of 0.5% in all residential loans outstanding in the three months to £1.256bn. Jonathan Harris, managing partner of Anderson Harris, said: "There is a general feeling that buy-to-let lending is a viable option again, although it is not the free-for- all of 2006/07. The rigours of the mortgage market review, introduced in April, and the capping of the number of high loan-to-value mortgages, have restricted the money coming into the lenders hence the focus on buy-to-let".

Source:   The Daily Telegraph (10/12/14)