MortgagesSep 26 2017

Mortgage lending climbs to £24.2bn in August

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Mortgage lending climbs to £24.2bn in August

John Goodall, chief executive and co-founder of buy-to-let specialist Landbay, said: “In the buy-to-let market specifically, October’s PRA [Prudential Regulation Authority] changes are fast approaching, so some of this uplift is likely down to landlords making changes to their portfolios before the stricter lending and reporting criteria kick in. 

“The changes are a good thing for the ongoing sustainability of the private rental sector, but many landlords are unaware of what the changes mean for them, so we could see a dip in Q4 lending levels while the industry adjusts to the new rules.”