Together reports record buy-to-let lending in June

  • 07/07/2016
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Together reports record buy-to-let lending in June
Buy-to-let lending levels at Together have flown in the face of market concerns, hitting a record high in June, rising by 65% on the same month last year.

This was despite changes to the amount of Stamp Duty buy-to-let investors would have to pay from April, as the lender completed 149 deals across its first and second charge portfolio.

The completions contained a mix of traditional and consumer buy to let, with the latter contributing 28% to the total number of buy-to-let deals in June.

Commercial CEO Marc Goldberg, said the lender hoped to see continued growth in the second half of the year.

“Looking back over the last 18 months, June is a record for our buy-to-let lending and I think that’s a really positive indication of the strength of this sector, despite the various changes, including the increased Stamp Duty, introduced earlier this year,” he said.

Last month Together removed its maximum age and doubled loan sizes on buy-to-let deals before a referral is required.

Together said at the time: “If the customer can show they have the means to afford the loan for a buy-to-let property, then their age shouldn’t be a barrier.”

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