Buy-to-let mortgages rise 26 per cent

Thu, 13 Oct 2011

The number of buy-to-let mortgages available on the UK market rose significantly over the third quarter of 2011, new research has shown.

Carried out by broker Mortgages for Business, the study revealed this amount was 26 per cent greater than that recorded over the second three-month period of the year.

It was shown that the total number of buy-to-let mortgage products now stands at 508 - markedly higher than the 403 reported in quarter two.

Furthermore, one new entrant to the lending market has meant the number of buy-to-let lenders in Britain has now climbed to 23.

David Whittaker, managing director at Mortgages for Business - which was formed in 1990 and specialises in both buy-to-let and commercial mortgages - said: "This is the third straight quarter in which the number of buy-to-let deals has risen in response to overwhelming demand from professional investors."

However, the industry figure noted a slow down in growth over the last three months suggests a seasonal fluctuation took hold over the summer months.

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