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Buy-to-let lending down

Buy-to-let investment levels remained strong last autumn although were down 11 per cent compared to the summer months, according to figures released by the Association of Residential Letting Agents.

The total amount lent since the ARLA launched the buy-to-let initiative in September 1996 stands at £4.18 bn. This has brought an additional 61,701 properties onto the rental market.

ARLA president Robert Jordan says: “The year 2000 saw the panel of lenders reduce from eight to six and a degree of profit taking in many prime areas, despite the fact that we advocate buy to let as a medium to long term investment.”

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