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TODAY'S OTHER NEWS

Buy to let enjoys another strong month for mortgages

The rise and rise of buy to let continues apace with the latest figures from the Council of Mortgage Lenders showing another increase in activity.

Buy to let lending for the purchase of investment properties in June performed strongly and accounted for some 17 per cent of gross lending, says the council.

Overall, buy to let lending rose sharply in June, increasing both month-on-month and year-on-year. 

But while direct buy to let house purchase rose significantly, these lending increases are driven more by strong buy to let remortgage activity, which was up 29 per cent in just one month.

A similar trend was seen in the second quarter as a whole, although the increases in volume and value were more muted says the CML. 

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