Buy-to-let’s have a bright start

It makes no sense to tempt fate in this marketplace, and one swallow does not make a summer, but the latest CML statistics for the buy-to-let sector in January appear to show a relatively strong start to the year.

These initial statistics certainly chime with our own experience as we moved into 2021 with plenty of enquiries, applications, and activity. This all seems to set a foundation for a solid set of figures for the coming year.

Overall, the statistics are clear on where the current balance of power lies within the buy-to-let sector right now with re-mortgage activity in the ascendency. During January, purchase activity was at an eight-month low, but as the CML itself said, there is always a winter lull.

That said, the split is approximately two-thirds re-mortgage-one-third purchase and while experts fully expect activity levels to increase, that split may well continue for some time. However, it is also muted that landlords are not fools and they will have perhaps held their counsel until they saw what Brexit might have brought, particularly in terms of any stamp duty U-turn etc.

If you are looking for a new or re-mortgage, please get in touch and one of our fully qualified independent advisers will be happy to help.