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Buy-to-let Mortgage boom says Royal institute of Chartered Surveyors!

Stock Market volatility has led to a surge in the number of people investing in property to rent out, says the Royal Institution of Chartered Surveyors.

Mortgage lending on properties which are let has increased by more than 60% in the past 12 months, according to the Council of Mortgage Lenders.

Low saving rates, poor performance in equity markets and cheaper mortgages have all led to a buy-to-let boom.

The Royal Institute of Chartered Surveyors says that in the 3 months to October 2001 46% more surveyors reported a rise in the number of people wanting to rent out properties.

Private lets account for 78% of the rented property market, followed by corporate lets which account for 12% and social lets which represent 5%.

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