Home  London Property News  Lending for buy-to-let properties jumps 26%

Lending for buy-to-let properties jumps 26%

Reading Time: 1 Min Read

Mortgage lending for buy-to-let properties increased by 26% in the final three months of last year, according to the Council of Mortgage Lenders.

Banks and building societies handed loans worth £7.7bn to landlords in the final quarter of 2014 – up 32% on the same period a year ago. On the other hand, lending to first-time buyers is down 2% on the previous quarter, to £11.6bn.

The number of loans for buy-to-let across the whole of 2014 totalled 197,700 – up 23% compared with 2013.

In December 2014, the average house price was £272,000, up £1,000 from November 2014 but below the peak of £274,000 in August.

The data appears to show that buy-to-let property is becoming an increasingly popular means of securing a retirement income following new pension reforms coming into force.

For more information click on the link below:

The Guardian

Neil Jennings

Neil is the Operations Director at Assetgrove Lettings, London's Leading Rent Guarantee Company, providing Landlords with no voids, property maintenance, fee-free property management and stress-free service.

Related Post

Citizens Advice warns about deposit replacement schemes
Updates: 2 Mins Read
Citizens Advice warns about deposit replacement schemes

Citizens Advice is alerting tenants to the drawbacks of using deposit replacement products instead of a government-backed scheme.

How to work out your property’s rental yield
Updates: 4 Mins Read
How to work out your property’s rental yield

How landlords in London who let their investment properties to families can generate an annual yield of over 4.5%

Our review of 2019
Updates: 15 Mins Read
Our review of 2019

Find out more about what 2019 meant for landlords and tenants, read our review of the year, month by month.