Drop in buy-to-let mortages

Aug. 18, 2005
The number of buy-to-let mortgages fell again in the first half of this year. The drop came despite a competitive market among building societies and banks eager to win loans to professional landlords still active in the housing market. Lenders signed off 94,000 buy-to-let mortgages in the six months to June, 4% fewer than in the second half of last year, according to the Council of Mortgage Lenders. In the first half of the year, total new advances on buy-to-let properties were £9.9 billion, about as much as in the second half of last year. The total size of the buy-to-let sector continued to expand to £63.5 billion. (FT)

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