13
May
CML figures show buy to let advances as 13% down from January
According to the latest figures from the Council of Mortgage
Lenders, gross buy-to-let advances in the month of February totaled
15,900 leans. This results as 13% less in comparison to January
figures, but is an 11% increase when compared to February 2014.
These loans represent a total of £2.2 billion of lending.
This suggests a decrease of 12% from January, but on the other
hand, is an increase of 16% compared to February 2014.
In February, the amount of buy-to-let loans for house purchases
was 7,400, which is a decrease of 3% on January, but with a 1%
increase on February 2014. These loans represented a total value of
£900 million, and as a result, records a decrease of 10%
month-to-month, but an increase of 3& year-on-year compared to
February 2014. The number of buy-to-let loans remortgages decreased
19% in February from January to 8,400; however this was an increase
of 23% on February 2014. The value of these loans totaled £1.3
billion, decreasing 13% month-to-month, but a nominal 31% increase
compared with last February.