Responding to Council of Mortgage Lenders data out today he said: “The total gross buy-to-let lending in Q1 2012 is 32% higher than Q1 2011, which is a significant improvement and demonstrates the level of confidence in the market.”
He said sustained growth in buy-to-let and the wider private rented sector will be fundamental in helping to provide more flexible and affordable housing to match the requirements of those in society with the greatest need.
And he added: “Whilst we are still not operating at 2007 levels the market is steadily growing. It is interesting to see that buy-to-let is also increasing its share of the mortgage market – 12.8% in Q1 2012 compared with 12.2% in Q1 2011.
“There is still much work to be done in the coming months to grow the market further. Paragon’s recently commissioned research shows that a fifth (20%) of landlords are looking to purchase buy-to-let property this year which should drive further growth in buy-to-let.”