Buy to Let Still Booming
The buy to let market seems to be going from strength to strength.
Recent figures show that the buy to let sector now accounts for 10% of the market, a rise of 7% since 2002.
This sector seems to be being blamed for most things lately especially the fact that first time buyers are unable to get onto the property ladder.
In the first six months of this year 171,8000 buy to let mortgages were arranged and were worth over £21bn. The success of the buy to let market shows when figures state that buy to let mortgage arrears of over three months is 0.63% whereas in the wider market it is 1.06%.
Perhaps the market will become even larger if lenders choose the buy to let sector rather than the sub prime market that has caused so many problems of late.
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