The month of November within the UK housing market represents a possible change in trends for the coming months. Original loans for house purchase fell, remortgage fell, and first time buying fell. These three areas constitute a large portion of the activity which takes place in housing and some experts see it as cause for possible concern. As these three areas saw lower amounts of activity, the area of buy to let ignited due to low interest rates and a rise in opportunities for those who can afford it.

The boom in buy to let is anything but a small pop. Lending to landlords took off during the month of November during 2014. In contrast, original home loan applications fell year to year by 7%. An increase of 9% compared with one year ago took place in November for buy to let properties.

First time buyers’ numbers fell in the month of November to the lowest in seven months.

Although buy to let loans are more expensive, a trend to make up what was lost in the years of economic recovery is setting in. Administration fees and up-front costs can deter many from taking it on, but the rewards can be fruitful. The low interest rates are making it possible for those looking for a buy to let loan to obtain lending and offset the additional costs associated with such a loan.

Mark Harris with broker SPF Private Clients, commented on buy to let lending, saying: “Of course, the resurgence of buy-to-let does have an impact on first-time buyers, with many competing for the same entry-level properties.”