The Council of Mortgage Lenders has released figures that the 'buy to let' market in the UK is still on the increase despite increased interest rates.
Compared to the same time last year (to June), there were 473,000 buy to let mortgages as opposed to 417,500 in 2003. They did state however that the rate of growth was slowing.
Our view
Think very carefully before taking on additional debt. Interest rates are rising and will continue for the next year or so. Everything is ok when you have a tenant - but what if your tenant leaves. Could you afford the costs then?