Buy-to-let lending 'increases'
Rental properties appear to be an increasingly popular investment, with buy-to-let lending increasing in the last three months of 2009, it has been revealed.
According to the Council of Mortgage Lenders, this was the second consecutive month of growth in the sector, with 25,800 new loans advanced in the fourth quarter, up from 23,700 in the third quarter.
Over the whole of 2009, 93,500 buy-to-let loans were advanced, with gross lending valued at £8.5 billion.
Such news may be welcomed by people looking for flats to rent in Islington or another part of London as they could now have far more to choose from.
However, the council's director general Michael Coogan said: "We are concerned that future, wrongly directed, regulation may actually prevent buy-to-let playing its vital role in providing good quality homes and wider housing choices for people who cannot afford home ownership or do not qualify for social housing."
Mark Garner, founder of LettingZone.com, recently claimed the private rental sector is "absolutely essential" to the UK housing market.
Written by Ben Carter
Published 11th February, 2010
© 2010 Estates IT Limited
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