BTL lending up 12% in Q3

Around 26,900 loans were advanced in Q3, a second consecutive quarterly increase in lending of 8% by volume and 12% by value. Lending volume was up 14% whilst the value of buy-to-let loans was up 33% to 23,700, compared to the third quarter of 2009. CML director general Michael Coogan says: "We would expect buy-to-let demand to pick up further if current rising rental trends continue and house prices remain broadly stable. "However, there is short term uncertainty as a result of the unresolved debate on housing benefit and landlords' response to new limits. "The bigger question...