Later life BTL lending drastically drops in Q4 2023

The volume of BTL loans for borrowers over 55 years old registered in Q4 2023 has dropped by over 52% year-on-year, revealed the latest UK Finance data.

Section: Opinion

According to the new research, 7,980 later life BTL loans were provided in the last quarter of last year for both house purchases and remortgages, representing a 52.86% drop year-on-year.

These loans totalled to just under £1.3bn, 56.12% lower compared to the same quarter the previous year.

Overall, later life BTL loans in the fourth quarter of 2023 represented approximately 22% of all BTL loans.

Keywords: btl, buy to let, uk finance, buy to let loans, private rental sector, prs, BTL loans

Source: BTL Insider — https://btlinsider.co.uk/later-life-btl-lending-drastically-drops-in-q4-2023