The share of gross mortgage lending for buy-to-let purposes during the first quarter of the year was 14%, thus supplying around one in seven of all home loans, according to the latest Mortgage Lenders and Administrators Statistics from the Bank of England.
The buy-to-let data, which covers property purchases, remortgages and further advances, is unchanged from the same period last year.
Mark Harris, chief executive of mortgage broker SPF Private Clients, said: “Encouragingly, buy-to-let lending was stable, even though the sector has come in for a lot of change on the tax and regulatory front.
“Investors are adapting to the new environment and tailoring their portfolios accordingly.”
While all tenants should pay their rent if they can, Harris believes that it is simply impossible to ignore the financial pressure some people are facing.
Following the government's ban on evicting renters amid the Covid-19 pandemic, many landlords are being asked to be as flexible as possible with their tenants, discuss managing rental payments where needed, and help them find sources of financial support and advice.
Harris added: “The impact of tenants unable to pay their rent is providing a further challenge for landlords, although of course this won’t be apparent until the second quarter figures.”
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