Bradford upbeat over buy-to-let

Bradford & Bingley is confident about the year ahead

Bradford & Bingley has said the buy-to-let market remains "buoyant" as it forecast profits towards the top end of analysts' forecasts.

The group, which specialises in buy-to-let and self-certified mortgages, said lending volumes were well ahead of the end of last year.

But it said four increases in interest rates have meant a slowing in the rate of growth in the mortgage markets.

And it said the number of home owners in arrears had slightly increased.

But Bradford & Bingley said the overall arrears rate remained within its expectations.

Based on performance in the first six months of this year, Bradford & Bingley also said that its results for the year should be near the upper end of a range of City forecasts, which currently stretch from £358m to £377m.