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Commercial Credit News
|CML comment from Just Mortgages|
|Thursday, 10 March 2016|
John Phillips, group operations director of Spicer Haart and Just Mortgages says, “According to the latest figures, landlords borrowed £3.7bn in January alone, which is up 42 per cent year-on-year. In addition, the increase in remortgage activity suggests that for many investors, buy-to-let is still seen as an attractive income investment, particularly at a time of stock market volatility and low savings rates.
“However, although the number of loans for buy-to-let house purchase decreased in January compared to December last year, the number of buy-to-let remortgages at the beginning of 2016 was at its highest monthly level since January 2013. It is possible that due to strong housing market fundamentals, more and more investors are choosing to remortgage in order to free up capital to increase their property portfolios and it will certainly be interesting to see if this hike continues after the impending tax changes in April.”
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