CML lowers forecasts for 2017 buy-to-let lending

The Council of Mortgage Lenders has again lowered its forecasts for gross 2017 buy-to-let lending due to a softer than expected market.

The issue was raised at a CML conference last week.

CML spokesman Bernard Clarke says: “Buy-to-let lending has been softer than we expected at the start of the year.”

Clarke adds the trade body will reveal more in a market commentary to be published next Thursday.

The CML last set its buy-to-let forecasts in December 2016, when it predicted reduced levels of lending compared to 2016:

Paragon Mortgages managing director John Heron says: “The reduced expectations for new buy-to-let mortgages is very much as predicted by a number of lenders, including Paragon.

“The sector has been impacted by a number of fiscal and regulatory interventions in quick succession and little thought has been given by policy makers to how this will impact over time on the supply of PRS property.”