Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it
Buy to Let at last starts to grow |
|
Friday, 13 November 2009 13:51 |
Gross lending in the buy-to-let mortgage market grew in the third quarter, the first time an increase has been reported in two years, according to the Council of Mortgage Lenders (CML). Lending of £2.1 billion was 10% higher than in the previous three months, while the number of loans advanced also improved. Despite the upturn, the CML said the recovery was from a low base, with lending volumes still much lower than their 2007 peak. "The recovery is modest but the figures show that buy-to-let is here to stay," said the CML's director general Michael Coogan. "Buy-to-let lenders are among those facing some of the biggest challenges in raising mortgage funding, so the improved figures are all the more welcome."
|