Buy-to-let lending continues to increase after a severe decline in the first half of 2009, new figures show.
While new lending rose for the second consecutive quarter in the last three months of 2009 – with 25,800 new loans in Q4 compared to Q3’s 23,700. These figures are well below thw historical average level and still very low.
Michael Coogan, director general of the Council of Mortgage Lenders (CML), which produced the figures, said this was ‘below the level of activity which is needed to enhance a vibrant private rental sector in the UK’.
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