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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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Credit where it&#39s due

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Sign up for in Manchester

The Manchester event – the only specialist technology conference and exhibition for financial advisers and their support staff – takes place at the G-Mex Centre Manchester on Tuesday 4 March 2003. More than 40 life offices, fund managers and technology companies are supporting the event, including Microsoft, IBM, Origo, The Exchange and AssureWeb. Full […]

Mortgage protection

Over 90 per cent of borrowers questioned in Legal & General&#39smost recent &#39Moving Intentions&#39 survey said that they had arrangedlife assurance cover purely to protect their mortgage.So it could be claimed that consumers are taking a responsibleattitude towards life assurance protection when arranging loans tobuy a home.However, while this is welcome and very good news, […]


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