While the buy-to-let sector continued its strong growth through the second half last year, research from the Council of Mortgage Lenders (CML) indicates that the market is slacking off slightly.
According to the CML, growth during the second part of 2004 is recorded as being at a slower rate than in previous periods. The Council says that at the end of last year an estimated 526,200 buy-to-let mortgages worth £52.2bn represented a 34% increase in value over 2003. Buy-to-let lending continues to account for about 6% of total outstanding residential mortgage lending. However, new lending in the second half of 2004 was around £9.8bn, 18% lower than the £12bn recorded in the first half of the year, and 16% lower than the £11.6bn in the second half of 2003. In total, however, res...
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