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CML: Buy-to-let setting records

17 August 2006
According to the Council of Mortgage Lenders (CML), the buy-to-let mortgage market is experiencing unprecedented sales figures for both volume and value.

The total number of buy-to-let mortgages in the UK is currently around 767,000 and in the first half of 2006, 152,500 loans were advanced, worth a total of £17.5 billion.

These figures represent an increase of 17 per cent by volume and 20 per cent by value on the previous highs from the second half of 2005.

"The buy-to-let market remains robust, underpinned by strong rental demand," said CML director general Michael Coogan.

Mr Coogan tempered his comments somewhat, saying rising interest rates may cause the "upward trend" of buy-to-let investments to slow "in the coming months".

"Fundamentally, however, the rental market remains sound and looks set to continue to offer good long-term prospects for astute investors," he added.

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