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Buy to let market still busy, mortgage lender believes

Wed, 10 Aug 2005

Buy to let mortgages are buoyant, Bradford &Bingley believes. Contrary to speculation that the buy to let market is slowing down, the former building society claims its eight per cent rise in profits for the first six months of the year is down to ongoing activity in the buy to let mortgage market.

The mortgage lender says buy to let market growth has been faster than in the mainstream property market . "The perils of buy to let have been overplayed," commented the mortgage lender's group chief executive, Steven Crawshaw.

With a 20 per cent share in renting market, Bradford &Bingley believes the buy to let mortgage market has good potential for growth. Mr Crawshaw remarked that continuing support from "strong social, economic and demographic drivers" further boosts the buy to let sector.

Other analysts predicted that the buy to let market in the UK is on a downward trend as increasing numbers of buy to let mortgage holders may look to sell their rental properties while house prices are high. A possible collapse in house prices has also been predicted.

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