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Buy to let lending 'set to rise' 09-12-2011

There is set to be a substantial rise in lending to buy to let landlords in the coming months, one analyst has predicted.

David Whittaker, managing director at Mortgages for Business, said he expects to see buy to let making up a higher percentage of the UK residential mortgage market because it is a subset of that market, and is effectively the same stock that people might live in.

In a market where the UK residential mortgage market itself might be soft, buy to let could account for a higher percentage of it in quarter four and going into next year, the expert predicted.

"Historically, it ran at about 13 per cent of the market, but dropped as low as eight and a half or nine per cent of the market in 2009, so you could say that all it is doing is re-establishing its status quo relationship with the residential mortgage market as a whole," Mr Whittaker added.

It comes after Lee Grandin, managing director of Landlord Mortgages, recently said that many mortgage lenders are very selective at the moment, meaning there is great deal of difficulty being faced by some landlords when trying to obtain a buy to let mortgage.

Source: www.zoopla.co.uk

Brought to you by: McLean Property Services - Nottingham Lettings Agency




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