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Buy to Let Market grew 7% in 2010

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The latest figures from the Council of Mortgage Lenders (CML) say the UK buy-to-let market grew by 7% in value terms to £10.4 billion.  The total number of buy to let mortgage loans grew 10% to 102,000.

Interestingly the number of defaulted loans in the buy to let sector is now on a par with owner occupied mortgages in percentage terms where this had previously been running a a higher rate.  This is though to have been balanced by low interest rates which have a much more powerful impact on the buy to let sector due to the prevalance of interest only mortgages.

The CML have stated in a press release that they expect ‘strong rental demand to remain, driven not least by the continuing deposit constraints to entry to the owner-occupier market’.

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