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There were 15,900 buy to let loans in February, down 13 per cent compared to January but up 11 per cent on the total a year earlier, according to the Council of Mortgage Lenders.

These loans totalled £2.2 billion in lending, down 12 per cent from January this year but 16 per cent above the amount loaned in February 2014.

It was the same trend with buy-to-let remortgaging, which fell 19 per cent in February from January to 8,400, but this was an increase of 23 per cent on February 2014.

The value of these loans totalled £1.3 billion - a whopping 31 per cent up on last February.

Buy-to-let, in contrast, has shown year-on-year lending increases, due almost completely to remortgaging which is typically strong in the buy-to-let market says Paul Smee, director general of the CML.

"We this month launched the CML buy-to-let statement of practice which reflects what responsible lenders already do and offers a clear explanation of how buy-to-let lenders operate. We hope it will help in people's understanding of the buy-to-let lending environment and the transparency of the statement of practice can give confidence to landlords that clear and consistent lending policies are being undertaken" he says.


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