Buy-to-let lending reaches £9.7bn in Q3
By |Published On: 8th December 2015|

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Buy-to-let lending reaches £9.7bn in Q3

By |Published On: 8th December 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Despite the Chancellor’s best efforts, buy-to-let lending continues to rise, according to the Bank of England and FCA latest Mortgage Lenders and Administrators Statistics.

Data from the report shows that gross advances totalled £62.1bn in Q3-up by 11.1% than at the same period in 2014.


The proportion of fixed interest rates rose from 78.9% in Q2 to 80.7% in Q3, with worries about an imminent Bank Rate rise subsiding.

Average interest rates decreased by 7 basis points during the third quarter of 2015 to 2.76%. This was the lowest rate since the series began in 2007.

Residential loan amounts outstanding in Q3 of 2015 totalled £1,281.9bn, an increase of 0.8% in comparison to Q2 2015 and 2.1% over the last year. New commitments rose from £59.3bn in Q2 2015 to £64.2bn in Q3 2015, representing an increase of 19.8% compared to Q3 2014.

Buy-to-let lending reaches £9.7bn in Q3

Buy-to-let lending reaches £9.7bn in Q3

First-time buyers

The total value of residential loans advanced to first-time buyers also went up over the quarter to £12.7bn from £10.9bn. This said, the proportion of lending in excess of 90% LTV decreased by 0.7% percentage points over the period.

There was however an increase in value terms in buy-to-let lending during the past twelve months-from £8.0bn advanced in Q3 2014 to £9.7bn in Q3 2015. The number of new arrears cases in the quarter was 20,335-2.2% lower than in Q2 of 2015 and the lowest since 2007.

However, new cases taken into possession totalled 2,881 in Q3 2015, a rise of 7.7% from the second period of this year. In addition, this was the first increase reported since Q1 of 2014.



About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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