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London BTL loan size slides

The average size of buy-to-let loans in central London fell by 25 per

cent in the fourth quarter of last year while BTL loans in Scotland

and Northern Ireland rocketed, says the Association of Residential

Letting Agents.

Its survey of BTL trends carried out for its panel of lenders,

including Birmingham Midshires, GMAC-RFC, NatWest, Paragon and

Standard Life Bank, reveals stark regional differences.

It found that the average loan in central London fell by 22.5 per

cent to £154,100 from £198,800 although Greater London saw

a rise of 3 per cent to £112,900 from £109,612. This

compares with Scotland and Northern Ireland, where average loans

increased by 13.8 per cent to £66,100 from £58,100.

Nationally, the size of the average BTL loan rose by only 0.6 per

cent to £82,700 from £82,206.

Arla says lending fell sharply in the south, with monthly average

lending dropping by 32.2 per cent to £60.1m from £88.6m.

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