In response to the government's consultation on mortgage regulation, the Council of Mortgage Lenders (CML) has recommended that buy-to-let lending should not be restricted.
The CML argued that extra regulation could further the amount of loans granted to landlord property insurance holders.
As a consequence, the CML urged the Treasury to leave buy-to-let lending regulations as they currently are.
The authority insisted that such loans are effectively commercial transactions with an investment dimension and, therefore, should not be grouped with retail mortgages .
A CML statement said: "Inappropriate regulation could further damage buy to let lending, which has shrunk substantially in the last two years, at a time when the government is separately promoting investment opportunities in the private rental sector."
Meanwhile, the CML recently revealed that the number of Britons who lost their homes reached a 14-year high last year.
According to a report, 48,000 homes were repossessed during the year, the highest number since 1995.
CML argues against regulation on but-to-let mortgages
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CML argues against regulation on but-to-let mortgages
Thu, 18 Feb 2010
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