The CML’s mortgage lending trends for October

Commenting on the mortgage lending trends, Steve Olejnik, chief operating officer of Mortgages for Business said:

“Certainly the buy-to-let lending curve has tailed off somewhat but I think that the more professional side of market remains robust with landlords factoring in additional costs. Only time will tell what effect this will have on rents.

“New stress tests in January and stricter underwriting rules for portfolio landlords in October on top of the approaching new income tax relief changes will make 2017 another challenging year. I anticipate that BTL lending next year will be down on 2016 and we will all have to work harder to maintain our piece of the pie.

“Having said that property will remain an attractive investment compared to other asset classes, particularly for landlords who approach investing intelligently.”