£21.9 billion in BTL mortgage repayments during year

The combined cost of buy to let (BTL) mortgage repayments in the last 12 months is £21.9bn, according to the UK’s the National Landlords Association (NLA).

Approximately one million landlords in the UK have some form of BTL borrowing, with the average cost of their mortgage repayments in the last year £20,950. These figures, which exclude upfront deposits of typically 25 per cent of property value, emerge shortly after the Bank of England announced a high of £8bn of BTL lending in quarter three of 2014.