Research data

Buy to Let Mortgage Product Index

Published monthly the Buy to Let Product Index tracks the number of lenders and buy to let mortgage products currently available in the UK mortgage market.

Average Buy to Let Product Data for February 2017

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Number of Products & Lenders

Average number of Buy to Let Products: 1,195

Average number of Buy to Let Lenders: 36

February saw average BTL product numbers continue to rise steadily, reaching an average of 1,195 over the month. Although still short of December product numbers, this demonstrates that lenders are once again diversifying their offerings in order to remain competitive in 2017.

February saw no lenders enter or exit the market, with the total remaining at 36.

Loan to Value

The split of products by loan to value threshold again remained fairly steady month-on-month. There was a slight (1%) increase in the representation of 75% LTV products, while the increase in total product numbers reduced the percentage share given to the eight products available at 85% LTV.

Rates

With the exception of five year fixed rates, which held steady, BTL mortgage rates decreased across all initial terms. February brought with it all time record lows across all terms except five year fixed rates and lifetime trackers. Three year products saw the greatest reductions in rates, but the average three year tracker rate remains considerably above its five year equivalent.

Fixed Rate Buy to Let Mortgages
Term January February
5 year 3.77% 3.77% ( + 0.00 )
3 year 3.76% 3.56% (  0.20 )
2 year 2.92% 2.90% (  0.02 )

 

Average Tracker Rate Buy to let Mortgages
Term January February
5 year 3.12% 2.99% (  0.13 )
3 year 3.76% 3.60% (  0.16 )
2 year 2.81% 2.76% ( – 0.05 )
Average Term Tracker 4.90% 4.87% (  0.03 )

 

 

The pricing of fixed and tracker rates is very similar and in many instances, fixed rates are currently more competitively priced than their tracker counterparts. For some time now, we have been of the opinion that many fixed rate mortgages at two, three and five years are offering considerably better value than trackers, particularly at lower LTVs.

These averages do not include fees. To find out how fees affect the cost of buy to let mortgages view our Buy to Let Mortgage Costs Index.

The data for our Buy to Let Product Index is derived from our market-leading buy to let sourcing tool, Mortgage Flow. To look at which buy to let mortgages fit your current borrowing requirements, use our instant Buy to Let Mortgage Calculator.

To look at data that compares the buy to let sub-sectors of HMOs and freehold blocks of flats compared to mainstream buy to let property, please take a look at our Complex Buy to Let Index.

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ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.