Landlord loads hit record high
BRITAIN is issuing the largest number of landlord loans since records began, official figures have revealed.
One in eight mortgages now a buy-to-let loan deal — an all-time high, the report said.
Of the 11.3million mortgages in this country, 1.44 million are buy-to-let loans, rather than standard residential mortgages.
A decade ago, there were only 275,500 buy-to-let loans, equal to just 2.4 per cent of the entire market. Today the number of buy-to-let loans is equal to 12.7 per cent, according to the figures from the Council of Mortgage Lenders.
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The change is partly because a generation of young people have been locked out of the housing market by soaring house prices.