Buy to Let in Continued Decline
Figures from the Council of Mortgage Lenders show number of buy to let mortgages taken out continues to fall
16th August 2005
The number of buy to let mortgages paid out declined by 4% in the first half of 2005, with 93,400 mortgages completed compared to 97,800 for the last half of 2004.
The twelve-month decline is even more pronounced, with a fall of 22% from 119,900.
Despite the fall in volume, continued property price rises meant that the total value actually rose a little, up £100m to £9.9bn.
Buy to let mortgages, however, still represent 7% of the total residential mortgage market.
Read More: Money Guardian : Buy-to-let market continues to slow
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More on Buy to Let : Bradford and Bingley : Mortgage Arrears and Profit Fears (News, 27/06/2005), No Growth in Buy to Let Market (News, 27/05/2005), Buy-to-Let Growth 'Slowing Down' (News, 15/02/2005) |
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