Buy-to-let loans down 18%

However, despite approvals holding up relatively well compared to the owner occupier market, arrears have risen by almost 70% during the same time. The CML’s latest figures show 144,600 new buy-to-let loans were taken out during the first half of 2008, down from 169,500 in the same period of 2007, and 18% lower than the 176,500 seen in the later half of 2007. Limited mortgage wholesale funding, which was particularly important for several buy-to-let lenders, is thought to be the main cause. There are now 1,103,000 outstanding buy-to-let loans in the UK, accounting for around 9% of all...