Latest data from UK Finance presents an interesting picture for April regarding buy-to-let mortgages.
Seems that the buy-to-let sector is still pretty strong putting pressure on house prices. Where is the Government policy to restrict buy-to-let?
There were 5,000 new buy-to-let house purchase mortgages completed in the month, some 5.7 per cent fewer than in the same month a year earlier. By value this was £0.7bn of lending in the month, 12.5 per cent down year-on-year.
There were 14,300 new buy-to-let remortgages completed in the month, some 32.4 per cent more than in the same month a year earlier. By value this was £2.3bn of lending in the month, 35.3 per cent more year-on-year.