The latest buy-to-let 2019 mortgage figures, released by UK Finance, have revealed that:
- Gross BTL advances of £41bn (2018: £40.5bn) on loan volumes of 253,300 (2018: 256,300)
- 69,900 loans for BTL house purchase with value of £10.2bn (2018: 72,200 loans and £10.7bn value)
- 177,100 loans for BTL remortgage with value of £29.3bn (2018: 178,800 loans and £28.3bn value)
Paragon managing director of mortgages, Richard Rowntree, said of the data: “It was pleasing to see the value of overall gross BTL advances increase for the second year in a row and reach its highest level since 2007. It was also interesting to see the divergence between loans for new purchases and remortgage grow at a slower pace than previous years. With an extra 1.2m properties required in the PRS over the next three years to satisfy demand, it is important Government and regulators foster the right environment to encourage landlords to continue to invest in property and provide good quality homes for the UK’s myriad of private renters.
“The good news is that we are starting to see signs of confidence return in the market, particularly amongst professional, portfolio landlords, who are showing a greater propensity to purchase.”