NATIONWIDE'S specialist buy-to-let mortgage lender UCB Home Loans has said the market is due to slow down.
The buy to let craze has exploded in the last five years. At the end of 1999 the total outstanding value of that type of mortgage was £5.4 billion but £52.2 billion by the end of 2004.
UCB Home Loans managing director Charles Reed said: "This initial surge is slowing down.
"We are expecting growth to continue over the next few years.
"The growth will continue but at a slower rate"
UCB's new report suggests fewer new landlords are entering the market but experienced property investors are continuing to expand.
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