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 - April 2017

Average data for April 2017:
Number of buy to let products: 1,196
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

April again saw no real change in BTL product availability, up by three products to 1,196 across the month. Similarly, there was no change in the number of BTL lenders, which has remained at 36 since the start of the year.

Apr 17 Pie.png

LTVs
The mix of availability for different LTVs changed little this month, with products below 75% max LTV rising 1% to 48% and 75% LTV products dropping 1% share to rest at 41%.

Q1 saw lenders maintaining their ranges of 75% LTV products, while providing fewer products with maximum LTVs both above and below this.

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 inched up in April for the first time this year, with three-year fixed rates increasing for the first time since April 2016. Although most rates rose in April, it is still unclear whether this will continue to become a trend, ending the current climate of successive record lows. Changes in fixed rates were a neat reversal of those seen in March, with only five-year fixed rates differing from February, and even then only by 0.01%. Changes in variable mortgage rates, however, followed no obvious pattern: five and two-year tracker rates increased by 0.02% and 0.12%, which three-year and term tracker rates fell by 0.02% and 0.11% respectively.

Apr 17 Fix.png

Apr 17 Var.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.