Vision for an independent organisation to represent UK landlords20:18 PM, 16th September 2018
About 6 days ago 56
by Property 118
10:57 AM, 12th September 2018
About A week ago
The Bank of England’s Mortgage Lenders and Administrators Statistics (MLAR) – 2018 Q2 show the share of Buy to Let lending has declined since 2018 Q1, accounting for 13.1% of new lending. This is down from 14.2% last quarter.
2018 Q2 has seen an increase in mortgage lending activity when compared with the previous quarter. New commitments (new lending that lenders have agreed to advance in coming months) are at their highest level since 2008 Q1 and there has been an increase in the amount of lending to first time buyers.
The overall shares of Buy to Let loans have decreased since last quarter. Please see graph below:
It is obvious that Section 24 (mortgage interest tax relief restrictions), Stamp Duty surcharges for second homes and an increase in regulations costs are all going to have a negative impact on BTL lending and hence future supply to the PRS.
However, we will have to wait to see if this short term trend compared to the longer term decline since the above attacks on landlord costs is statistically relevant.
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