The number of buy-to-let loans advanced in the third quarter of 2009 totalled 23,700, according to the Council of Mortgage Lenders (CML).

This equated to a rise of 2,100 on the previous three-month period and coincided with the first gross lending quarterly increase in two years.

Private landlords appear to be getting their hands on finance more readily than they were earlier this year.

Gross lending came to £2.1 billion for the third quarter - ten per cent up on the previously reported figure.

As the data was released earlier this week, CML director general Michael Coogan said that the buy-to-let sector is here to stay.

"Buy-to-let lenders are among those facing some of the biggest challenges in raising mortgage funding, so the improved figures are all the more welcome,"he remarked.

Reacting to the CML report, managing director of Paragon Mortgages John Heron suggested this part of the mortgage market had shown resilience and strength in tough economic conditions.

Written by Sarah Field


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