CML releases data after Bradford & Bingley bailout - buy to let mortgages

30 September 2008

The Council of Mortgage Lenders has released information to counter claims in the media that the buy to let mortgages sector is faring worse than the market as a whole.

Media coverage in the wake of the nationalisation of Bradford & Bingley seemed to suggest that the buy to let market was not performing as well as the wider industry, the CML stated, but added that "this is not the case".

Figures from the organisation show that in fact, there are less arrears in the buy to let division than there are for the entire market.

They revealed that in the first half of 2008, 1.1 per cent of buy to let mortgages were in arrears, compared to 1.33 per cent in the general mortgage sector.

Meanwhile, the Financial Services Consumer Panel has assured Bradford & Bingley customers that their money is safe.