5th
Jun 2015
Within the next twelve months there are predictions that the buy-to-let market will rocket above the £1 trillion mark.
The Council of Mortgage Lenders (CML) is now claiming from their recent research that the value of landlords’ private rented properties had topped £990 billion last year (2014).
In the last seven years since the financial meltdown of 2007, the PRS’ landlords’ housing stock had soared by an incredible 70% …..and is continuing to rise.
In 2014, figures stated that residential properties were worth £4.8 trillion, homeowners had £1.8 trillion of bricks and mortar and buy – to – let landlords had £990 billion of the market.
The mortgage industry’s fastest growing sector is landlord loans; however it is reporting that although private landlords borrowing is on the increase, the value of loans against the properties’ worth was comparatively low. The figure is approximately just 19% of the overall properties’ value.
It is good news that only £643 billion of the £990 billion PRS stock nearly two thirds, was mortgage free.
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