'Buoyant' buy-to-let market continues

The buy-to-let market has remained strong in the first half of 2007, Bradford & Bingley has said.

Bradford & Bingley is the biggest provider of buy-to-let loans in the UK.

Indeed, buy-to-let mortgages have been the main driver of the bank's growth in the first six months of the year, it claimed, adding that profits for the full year before tax are expected to be "towards the upper end of the range of analysts' forecasts".

"We've had an excellent start to the year, marked by very strong growth," said Steven Crawshaw, group chief executive.

"Prospects remain good for the second half as demand continues to drive the buy-to-let market."

Lending volumes for the period between January and June were ahead of those for the second half of 2006, according to the firm.

However, Bradford & Bingley did point out that the rate of growth in the housing market as a whole is starting to slow down.

Mr Crawshaw added that "organic growth, portfolio acquisitions and capital management" would be the lender's focus for the second half of the year.