Buy to let lending in the UK Rises due to strong rental demand.

LEEDS, U.K. - Aug. 13, 2013 - PRLog -- The number of buy to lending instances in the UK during the last year has increased to the highest. The number has advanced to 40,000 with an amount of 5.1 Billion Pounds. This is the highest level recorded since the third quarter of 2008. According to the stats, buy to let lending is increasing smoothly and has increased to a highest level since the earlier slump in the property business. This can visualized rightly from the number of loans lend during the first quarter of the year as it is amounted to 21% and of the previous quarter it is 19%. The lenders advanced the mortgage amount to 33,500 with an amount of 4.2 Billion Pounds.

According to the authorities this is a positive sign in the industry and shows that the ability to fund the market for the mortgage purpose has improved over the years. By the end of June the outstanding mortgages stood at an amount of 1.48 million with the total value of 168.5 Million Pounds. The buy to let mortgages accounted for 8.4% of the total over the last three months. Higher from 8.3% in preceding quarter but less than 9.7% as compared to the previous year. The possession rate is at 0.09% that is higher than 0.07% as compared to the prevailing wider mortgage market in the rest of the places but less than 0.11% that was in the previous quarter. This rise in the mortgage is due to the high demand in the mortgage industry especially because of the rental properties that are most in demand because of the increasing number of students who need accommodation to live and survive. This has been a positive indicator for the landlords to mortgage and rent out the properties as the profitability has increased to the highest level since the year 2007.

The facts and figures prove that the buy to rent sector is continuously on boom and is increasing the opportunities for the landlords to invest in the properties to gain the maximum from the benefit of the market. The cities like Manchester, Liverpool, Birmingham and suburbs have the maximum benefit of this business as the increasing number of property rental business is growing in these areas. This has given a huge opportunity to the landlords to invest in these areas and provide better accommodation opportunities to the students and professionals. The maximum number of the tenants looks for the properties at the most feasible rates and this boom in the property business has made it possible for them to avail the perfect accommodation opportunities in the leading towns of the country with the best facilities that are necessary for everyday living. Invest in the property has become the most beneficial business and this has caused the growing boom in this industry all over the country.

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