Buy-to-let lending falls 64% in a month

According to figures released by the Council of Mortgage Lenders, the amount of Buy-to-Let lending has fallen 64% in April, as the stamp duty hike came into force.

Compared to the same period last year, the figures were up overall by 15% - the huge amount of activity before the stamp duty changes came into force could have contributed to this increase in overall activity, as investors rushed to secure property before the increased changes were activated.

Lending to home movers also dropped by a significant 53%, whereas first time buyers remained the most active in the market, with only an 11% drop.