Purchases of buy-to-let properties have plummeted this year following tax changes and tighter lending criteria, figures from the Council of Mortgage Lenders show.
Purchases by landlords requiring a mortgage totalled 5,300 in April, down from 10,300 in February last year. Over the last year, such purchases have averaged 6,000 a month.
The CML is estimating lending for buy-to-let properties will total £35bn this year and £33bn next, down from its previous estimate of £38bn in each year.
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