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The Financial Services Authority has revealed that buy-to-let lending volumes held up better those for the housing market in general up to the third quarter of 2008.

In its report into the lending of all regulated mortgage lenders, it found that buy-to-let had stayed resilient in the face of 2008’s downturn.

The FSA says lending for buy-to-let had been “more stable” than other forms of lending, accounting for between 11% to 12% of overall residential lending since the second quarter of 2007. Admittedly, actual volumes were in decline over the same period, but buy-to-let is still a popular choice, according to the statistics.

This proportion of buy-to-let deals fell to 8% in the third quarter of 2008, but overall buy-to-let as a proportion of all mortgages lending was 1% higher than in the third quarter of 2007.

This is great news – buy-to-let isn’t dead. People still want to buy properties and more importantly, as the FSA has shown, there are still lenders out there who want to lend the buy-to-let mortgages.

If you want to hep keep the statistics going into 2009 and want to take on a buy-to-let mortgage, talk to an adviser as soon as you can.

SOURCE: FSA, 22/01/09

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