The number of buy-to-let loans rose in the third quarter (Q3) of 2012. Research from the Council of Mortgage Lenders (CML) revealed that in the three months to September there was a 2% rise in the number of loans that were advanced, a total of 34,400 mortgages were approved.
Accordingly, letting agencies may have noted a rise in enquiries from investors keen to advertise rental properties.
The director-general Paul Smee of the CML said: “Buy-to-let lending is continuing to recover and to grow in line with expectations.”
He added that this growth in private renting “looks set to continue in the years ahead”.
The CML’s report revealed that the average loan-to-value available on buy-to-let mortgages remained at 75%, with an average minimum rental cover of 125%.