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.

Buy to Let Mortgage Product Index - May 2017

Average data for May 2017:
Number of buy to let products: 1,246
Number of buy to let lenders: 36

Average data for Q1 2017
Number of buy to let products: 1,167
Number of buy to let lenders: 36

May saw an increase in BTL product availability, up by 50 products to average 1,246 across the month. This brings product availability back in line with figures for Q4 2016. There was no change in the number of lenders offering buy to let mortgages, which has remained at 36 since the start of the year.

Apr 17 Pie.png

LTVs
There was no change in the proportion of products available at different LTVs this month (see pie chart).

Initial Terms
Q1 saw products continue to creep towards five-year initial terms and away from two and three-year terms. This is likely fuelled by increased investor demand, with landlords seeking these products both for the security they offer in the face of continued economic uncertainty and to maintain current levels of borrowing in a climate of enhanced affordability testing.

We have also seen an increase in the availability of one-year products, which now make up 2% of all offerings.

Rates March 2017.png

Rates
BTL rates were practically static in May, with the greatest change being an increase of just 0.04% on two-year trackers. Average two and three-year fixed rates did not change at all, while the average five-year fixed rate fell 0.01% to 3.75%.

There was a little more change in tracker rates, with the average three-year tracker falling by 0.01% to 3.52%, a record low. Meanwhile, five-year, two-year and term tracker rates saw increases of 0.02%, 0.04% and 0.01%, reaching 2.93%, 2.88% and 4.75% respectively (see tables, below).

data tables May17.PNG


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.