Buy to let boom
The buy-to-let mortgage market held firm during the second half of 2007 despite the turbulence caused by the global credit crunch, figures showed.
A total of £24.1bn was advanced to investment landlords during the six months to the end of December, up from £21.2bn during the first half of the year and 16% more than in the same period of 2006.
At the same time, 179,100 individual loans were taken out during the period, four per cent more than during the first half of the year, the Council of Mortgage Lenders said.
The rise pushed the number of outstanding buy-to-let mortgages through the one million barrier for the first time, to nearly 1.04 million - a 23% jump on 2006.
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