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Buy-to-let lending bounces

09 August 2012

In the three months to June, lenders advanced 33,200 loans worth £3.9bn up from 32,300 mortgages worth £3.7bn in the first quarter.

Year-on-year the Buy-to-let market continued to grow strongly with the volume of loans up 14% from 29,100 and the amount advanced up 18% from £3.3bn.

Growth in buy-to-let lending was evenly split between loans for house purchase and remortgaging with both showing a 3% increase by volume over the first quarter.

Year-on-year lending for house purchase has grown 17% by volume and 21% by value and is stronger than remortgaging which was up 10% by volume and 15% by value. However buy-to-let lending is continuing to recover from a low point in 2009 and lending volumes remain around one-third of their peak in 2007.

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