Landlords increase buy to let portfolios by 20 per cent in 2011
Buy-to-let is bouncing back while the rest of the property market struggles, with mortgage figures showing landlords purchasing 20 per cent more homes last year.
The rise in buy-to-let properties bought, revealed by the Council of Mortgage Lenders today, comes over the same period that residential purchases are expected to fall by five per cent and first-time buys will remain near record lows.
But lenders say they are not favouring landlords over first-time buyers. CML director general Paul Smee said: ‘These figures do not suggest that buy-to-let is crowding out first-time buyers; more that it is performing a really important role within the overall housing market.’
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