Home bankerPosted: August 8, 2013
Mark Carney’s pledge on interest rates can only make buy to let look even more of a one-way bet for landlords and the banks who lent them a cool £5 billion in the second quarter of 2013.
Figures published by the Council of Mortgage Lenders a day after the Bank of England governor made his announcement show a new surge in loans. In the three months from April to June its members made 40,000 gross advances to buy to let landlords worth £5.1 billion. Both are the highest quarterly figures seen since 2008. The number of loans was up 19 per cent and their combined value was up 21 per cent on the previous quarter. Loans were up 19 per cent by volume and 31 per cent by value on a year ago.