At the start of 2013, there was a strong appetite for the buy-to-let market in the UK, with many current landlord insurance customers looking to expand their portfolios and new buyers trying to come onto the market.
However, many may have feared a dulling of the private rented sector in the past few months as more and more people found it more affordable to buy their own house thanks to governmental schemes like Funding for Lending and Help to Buy.
These worries have been allayed, though, by the latest figures from the Council of Mortgage Lenders (CML) which have shown that investors are still looking to put their money into the sector thanks to a level of demand that has remained sustained despite a higher number of new buyers making their own way onto the property ladder.
It said that the number of mortgages afforded to buy-to-let investors amounted to 40,000 in the second quarter of the year, with the value of these totalling some £5.1 billion. What was most impressive was the way this compared to a year ago.
In the midst of 2012, LSL Property Services was continuously reporting new record highs for monthly rental prices, pushing landlord sentiment ever higher and making more and more people buy.
And despite the fact that rental price increases have been far more subdued in 2013 so far, the CML reports that the number of mortgages approved in the second quarter of the year was 19 per cent higher than the same period a year ago. The value of these was also considerably increased, amounting to 31 per cent growth in the space of just 12 months.
George Spencer, chief executive of online lettings company Rentify, said: "This growth is fuelled by a renewed appetite from investors - both experienced and novice alike, along with better availability of buy-to-let mortgages at lower rates and with looser criteria than at any time in the past five years."