UKCFG confirms record 2004 buy-to-let mortgage figures

UKCFG confirms record 2004 buy-to-let mortgage figures

UKCGF completes £1.26 billion or one in 20 buy-to-let mortgages in 2004.

The United Kingdom Commercial Funding Group (UKCFG) has completed a record £1.26 billion of buy-to-let mortgage finance arrangements in 2004, up on the £1 billion achieved in 2003.  These figures highlight the phenomenal rate of continued growth of the group within the sector.

“This achievement is particularly impressive against the 2004 backdrop of five interest rate rises and a general slowdown in residential property capital appreciation and resulting drop in demand for buy-to-let finance,” says David Whittaker, managing director of Mortgages for Business, one of the four UKCFG member firms.

It is now estimated that UKCFG transact at least one in every 20 but-to-let mortgages in the UK, based upon member firms’ business volumes and compared against the Council of Mortgage Lenders buy-to-let mortgage lending statistics for 2004.

The group has also increased their business volumes in other areas of finance including commercial property investment mortgages, commercial owner occupier mortgages and property development finance.

UKCFG is made up of four specialist commercial mortgage brokerages: Mortgages for Business (Sevenoaks, Kent), Professional and Commercial (Southampton), The Business Mortgage Company (Cardiff), and the Money Centre (Norwich).  The group also operates a number of satellite offices around the UK.

The group works closely with buy-to-let lenders and supports them by providing marketing, processing and packaging facilities – elements that significantly impact lenders’ profitability.  Lenders provide UKCFG with preferential buy-to-let mortgage products with market leading rates and terms that are only available through the group’s member firms.

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For further information contact:

Matt Baldwin, Coast Communications

Tel: 01233 721597 or 07930 439739

Email: matt@coastcommunications.co.uk

Jonathan Moore, Mortgages for Business

Tel: 01732 471600

Email: jonathanm@mortgagesforbusiness.co.uk