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60% jump in househunters turned down for mortgages
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Scotland's home prices break the £140k barrier
Scottish housing boom set to slow
House buyers pay for extra room
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Scots house prices race upwards at double UK rate
Price gap between Scotland and England closes
Scotland heads annual house price rises
Herald's new guide reveals houses for sale under £50,000
New survey confirms Scottish house prices rising faster
Scots house prices rise at twice UK average
House prices rising fastest in Scotland
Warning as UK property prices rise 8.2%
The shape of New Build to come
Major council plans for Dalkeith housing
A country house near to the city
Number of £1m homes soars over 100 mark
House prices set for soft landing
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Population decline to hit house prices
English home buyers head north
Luxury Estate planned for South Glasgow
Buy-to-let hits new UK high
© The HeraldOriginally published: 17.08.2006
Buy-to-let borrowing hit record highs in the first six months of the year, it was revealed yesterday.
The number of loans climbed 17-per cent from the second half of 2005 to 152,500 with their collective value increasing 20-per cent to £17.5bn. There are currently 767,000 residential buy-to-let mortgages in the UK totalling GBP83.9bn, the Council of Mortgage Lenders (CML) said.
But more borrowers also fell behind with repayments, with 0.73-per cent of buy-to-let mortgages in arrears of three months or more, up from 0.68-per cent over the previous six months.
Underwriting criteria remained unchanged with the average maximum loan-tovalue standing at 85-per cent and lenders requiring rental income to exceed mortgage repayments by at least 25-per cent.
Michael Coogan, director general of the CML, said: "The buy-to-let market remains robust but the view that interest rates are now more firmly on an upward trend is likely to cause the rapid growth of buy-to-let investment to slow."
