Buy-to-let activity on the rise

In the buy-to-let world, new lending fell for the sixth consecutive quarter, accounting for 6 per cent of all gross mortgage lending in the first quarter of 2009, down from 12 per cent in year on year figures. There were 1,700 buy-to-let repossessions in the first quarter of the year (0.15 per cent of all buy-to-let mortgages), up from 1,300 during the previous three months (or 0.11 per cent of the market). A receiver of rent was appointed in 2,400 properties – enabling tenants to stay in their home by paying rent to their lender rather than the landlord.