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 October 2016

 October 2015 - November 2016

Number of Products & Lenders

Average number of Buy to Let Products: 1,233

Average number of Buy to Let Lenders: 33

The average number of buy to let products in the market rose in the second half of October, peaking above any single month in the previous year. There were no new lenders to enter the market this month.

 

Loan to Value

Products available below 75% loan to value fell by 3% compared to September. Products available at 80% increased by 2% and products available at 75% loan to value rose by 1%. For the fifth month in a row there were just eight products available at 85% LTV making up just 1% of the market.

Rates

The average pricing of fixed rate products continued to fall in October, as did the average two year tracker rate. However, three year tracker rates saw little change and five year trackers saw appreciable rate increases.

Fixed Rate Buy to Let Mortgages
Term    September       October
5 year 3.77% 3.67% ( - 0.10 )
3 year 3.85% 3.81% ( - 0.04 )
2 year 3.03% 2.97% ( - 0.06 )

 

Average Tracker Rate Buy to let Mortgages
    Term            September           October
5 year 3.04% 3.25% ( + 0.21 )
3 year 3.77% 3.78% ( + 0.01 )
2 year 2.86% 2.81% ( – 0.05 )

 

 

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.