I do feel encouraged by the positive viewpoint expressed in this article. At last the real statistics of the proven stability of the industry have been highlighted, without being tainted by scaremongers. At The Business Mortgage Company (TBMC) we are seeing ever-increasing business levels with outstanding growth recorded in our results, which mirrors the statistics published in the article.
Back in 2001 when the market was much smaller than it is today, commentators were already describing buy-to-let as a ‘bubble ready to burst’. However, researched evidence shows the very opposite – that the buy-to-let market is stable and robust and that there are still opportunities for further growth.
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Demand for private rental property is increasing with rising immigration, a growing student population and the changes in lifestyles of would-be first time buyers who are opting to rent for longer before considering home ownership.
The buy-to-let market has seen outstanding growth since its inception and has been described by pundits as one of the main growth sectors of the mortgage industry over the past decade. The buy-to-let industry is now worth an incredible £94.8 billion according to recent research and represents just under 10 per cent of all mortgage lending.
So it is good news for the buy-to-let market and the ‘b’ in Claridge’s article stands for ‘buoyant’.
Andy Young
Chief executive officer
TBMC
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