According to data released by the CML on the 11th of August, buy-to-let lending grew 5% over the month to £2.2bn in June, though the number of loans was the same as May at 15,600.
But growth was strong compared with June last year, up by 38% in value and 23% by the number of loans.
Overall buy-to-let lending in the second quarter of 2014 increased slightly on the previous quarter but more substantially in comparison to the same period last year. Gross buy-to-let lending totalled 46,200 loans, up 22% on the second quarter of 2013. The loans totalled £6.3bn, up 3% on the first quarter of 2014 and up 31% on the second quarter of 2013.
Within the overall total of buy-to-let loans, 8,200 were advanced in June for house purchase and 7,250 for remortgage. The value of remortgage loans was up by 23% compared to June last year.
Paul Smee, director general at the CML, commented: “For the second month running since new FCA rules took effect, lending characteristics remain similar to the market beforehand. As we recently suggested in our revised forecasts, lending levels should continue to increase modestly over the course of the year, driven mostly by house purchase but with remortgaging also recovering.”
<!--[if gte mso 9]><xml>span style="background: white; mso-bidi-font-weight: bold;">According to data released by the CML on the 11th of August, buy-to-let lending grew 5% over the month to £2.2bn in June, though the number of loans was the same as May at 15,600.
span style="background: white; mso-bidi-font-weight: bold;">
But growth was strong compared with June last year, up by 38% in value and 23% by the number of loans.
br /> Overall buy-to-let lending in the second quarter of 2014 increased slightly on the previous quarter but more substantially in comparison to the same period last year. Gross buy-to-let lending totalled 46,200 loans, up 22% on the second quarter of 2013. The loans totalled £6.3bn, up 3% on the first quarter of 2014 and up 31% on the second quarter of 2013.
br /> Within the overall total of buy-to-let loans, 8,200 were advanced in June for house purchase and 7,250 for remortgage. The value of remortgage loans was up by 23% compared to June last year.
strong>Paul Smee, director general at the CML, commented: “For the second month running since new FCA rules took effect, lending characteristics remain similar to the market beforehand. As we recently suggested in our revised forecasts, lending levels should continue to increase modestly over the course of the year, driven mostly by house purchase but with remortgaging also recovering.”
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