Increase in landlord property purchases drives up conveyancing demand

Property solicitors are increasingly being called upon to oversee purchasers as tenant demand continues to drive growth within the residential property market.

Figures released by the Council of Mortgage Lenders show that the number of buy-to-let loans has increased by sixteen per cent in the third quarter of 2011.

Between May and September, 34,500 buy-to-let loans were approved and advanced totalling the value of £3.8 billion, up from £3.2 billion in the second quarter of 2011.

The figures show that optimism is returning to the buy-to-let market, however this is overshadowed by the numbers of individuals, including first time buyers, who are unable to get onto the property ladder and those which have resorted to renting.

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