Buy-to-let lenders advanced a record 130,400 loans in the second half of last year, an increase of 39% over the preceding six months, according to data released by the Council of Mortgage Lenders.
The value of lending in the second half of 2005 was £14.6 billion, 47% higher than in the first six months of the year; this was also a record. Lending in the second half of the year increased the number of outstanding buy-to-let mortgages to 701,900, worth a total of £73.4 billion (8% of the total market at the end of 2005). During this period, the size of the outstanding buy-to-let market grew by 11% by volume and 16% by value, compared to the first half.
Overall the figures show that both loans for house purchase and remortgaging made a significant contribution to the growth of new buy-to-let lending in the second half of last year.
