Asked by: Baroness Hayman of Ullock (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what estimate they have made of the number of buy-to-let mortgages in the UK that are on (1) a variable rate, or (2) a fixed rate that expires by the end of 2023.
Answered by Viscount Younger of Leckie - Parliamentary Under-Secretary (Department for Work and Pensions)
While the Government wants to support those who aspire to be homeowners, we appreciate that this is not everyone’s aspiration and that there are many people for whom renting a home is either more practical or affordable. There therefore needs to be a thriving private rental sector to accommodate these people’s housing needs.
In Q2 this year, 13.6% of new advances were buy-to-let mortgages. The government does not hold data on the number of buy-to-let mortgages on variable or fixed rates.
The pricing of mortgages and rents remain commercial decisions for lenders and landlords respectively, and the Government does not seek to intervene in these decisions. The Government is, however, providing millions of the most vulnerable households with financial support with the cost of living this year.
Asked by: Baroness Hayman of Ullock (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what estimate they have made of the number of buy-to-let mortgages in the UK.
Answered by Viscount Younger of Leckie - Parliamentary Under-Secretary (Department for Work and Pensions)
While the Government wants to support those who aspire to be homeowners, we appreciate that this is not everyone’s aspiration and that there are many people for whom renting a home is either more practical or affordable. There therefore needs to be a thriving private rental sector to accommodate these people’s housing needs.
In Q2 this year, 13.6% of new advances were buy-to-let mortgages. The government does not hold data on the number of buy-to-let mortgages on variable or fixed rates.
The pricing of mortgages and rents remain commercial decisions for lenders and landlords respectively, and the Government does not seek to intervene in these decisions. The Government is, however, providing millions of the most vulnerable households with financial support with the cost of living this year.