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Lending for buy-to-let properties jumps 26%

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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 background is in marketing and business development and has over 20 years experience in the field. He runs Asset Grove and is involved in the marketing strategy for most of our campaigns.

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