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At the end of April 2016 the Bank of England published its proposals for a loan level data collection for buy-to-let. The aim is to capture 99% of the buy-to-let market, with every lender completing in excess of £20m of new buy-to-let lending per annum to be caught by the requirements. Currently 16 lenders provide information on 28 attributes via the Council of Mortgage Lenders (representing 90% of the market). From July 2017 the Bank of England wants 99% of buy-to-let lenders to provide information on some 46 attributes regarding their buy-to-let lending. The BSA put together a response to the consultation which can be viewed here. The main recommendations are that:
Robert Thickett
Digital Policy Manager