The first half of 2005 saw lenders advance around £9.9bn in new buy-to-let mortgages, showing a marginal increase on lending for second half of 2004, according to new data from the Council of Mortgage Lenders.
But the CML says the number of new loans declined by 4% in the first half of this year to 94,000, although this is a more modest reduction than the 18% fall in the second half of 2004. The total size of the buy-to-let sector continued to expand in the first half of 2005, and is now worth £63.5bn. There are currently 632,000 buy-to-let mortgages, representing 7% of all outstanding residential mortgage lending. The number of buy-to-let mortgages three months or more in arrears increased in the first half of this year to 0.70% from 0.66% in the second half of last year. This is less than...
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