London is back as the most popular part of the UK for buy to let investment according to an analysis undertaken by Commercial Trust, a specialist mortgage firm.
In quarter two of 2018 the firm says 15.34 per cent of its applications for BTL mortgages were for properties in London, overtaking the south east on 13.76 per cent.
These two regions have dominated the broker’s buy to let purchase data historically, but the north west had closed the gap notably and for the last quarter had a high 11.11 per cent share.
The company also enjoyed a sharp rise in business in the April-May-June period, with a 32.17 per cent spike in volume from the corresponding quarter of last year.
“Whilst property prices and stamp duty costs have undoubtedly quelled the investment ambitions of some landlords in the capital, there are those still willing to put their faith and money into London bricks and mortar” explains company chief executive Andrew Turner.