UK Buy to let lending drops in first quarter
New figures released from the Council of Mortgage Lenders last week show a drop of 5 per cent in the levels of Buy-to-Let funds issued during the first quarter of 2012 when compared to the amount issued during the last quarter of 2011.
The total amount issued for this sector of UK mortgages is still nearly a third higher than at the start of last year but much lower peak levels experienced prior to the start of the financial crisis in five years ago, experts continue to expect this sector of the market prosper in the years ahead.
Buy to Let lending has increased its share of the UK mortgages market with current levels valued at just over £159 billion.
Instances of repossession on buy to let properties is above that of owner occupied properties but has remained steady for more than a year.
In recent times UK lenders have improved facilities for owner occupiers who slide into arrears with the aim of helping the home owner remain in the property while they try to regain financial stability.