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Buy-to-let mortgage sales on the rise

Over £1.7bn of property has been bought through buy-to-let mortgage schemes since 1996 according to the Association of Residential Letting Agents.


It says that in the three months to January 1999, 4,609 buy-to-let mortgages worth over £330m were completed. This figure represents a growth of 36 per cent from the previous three months.


The average cost of a buy to-let mortgage is £75,000 and the average loan to value is 65 per cent according to ARLAs latest quarterly figures.


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