104% increase in buy to let mortgage deals over the last three years Go compare with our comparison table

104% increase in buy to let mortgage deals over the last three years

27 October 2011 / by Colm Hebblethwaite

New statistics released by Defaqto have revealed that the amount of buy to let mortgage deals on the market has risen by 104% since 2008. 

In October 2008, there were 237 buy to let mortgage products for consumers to choose from; currently, there are 483 products on the market.

The analysis also found that there was considerable growth in the availability of intermediary-based buy to let mortgage products.  Currently, 86% of buy to let mortgage deals are available either through intermediaries only or through both intermediaries and providers directly.  In 2008, this figure was 70%.

In addition, the number of buy to let mortgage products available through intermediaries only has increased from 24% in 2008 to 60% currently.

Since 2008, seven more lenders have started to offer buy to let mortgages, bringing the current total to 63.  Of this group of lenders, 15 lenders will only offer products through intermediaries, 18 will only offer products directly to customers and 30 make their products available using a combination of the two methods.

Defaqto’s Insight Analyst for Banking, David Black said that the findings showed that the buy to let market is “becoming more buoyant”.

He also stated that the analysis revealed that intermediaries are becoming increasingly more important within the buy to let mortgage sector.

Black added that brokers’ “core strength” is their ability to provide advice, something that is especially valued in the buy to let market, “where people are likely to need more guidance when selecting a suitable mortgage”.

Buy to Let Mortgage Deal Selection

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed
Buy-to-Let

1.95%

Reverts to 4.25%

2

Years

60%

YesMore Info >
  • Call 0800 096 7962 to speak to an RBS mortgage specialist.
Fixed
Buy-to-Let

1.99%

Reverts to 4.74%

2

Years

60%

YesMore Info >
Fixed
Buy-to-Let

2.14%

Reverts to 4.74%

2

Years

75%

YesMore Info >
  • Available to all customers
  • Call 0330 333 3893 to speak to us about this deal
  • Product fee £995
Tracker
Buy-to-Let

2.40%

Reverts to 4.25%

2

Years

70%

YesMore Info >
  • Call 0800 158 2934 to speak to a NatWest mortgage specialist
Fixed
Buy-to-Let

2.73%

Reverts to 4.25%

2 Years

75%

YesMore Info >
  • Call 0800 158 2934 to speak to a NatWest mortgage specialist
Fixed
Buy-to-Let

2.84%

Reverts to 4.74%

5

Years

60%

YesMore Info >
Lifetime Tracker Special
Buy-to-Let

3.24%

Life of the mortgage

75%

YesMore Info >
  • Call the HSBC Mortgage Team 0800 077 4336
  • Product fee of £1,999
  • Maximum Mortgage £500,000
Fixed
Buy-to-Let

3.69%

Reverts to 4.74%

7

Years

75%

NoMore Info >
Fixed
Buy to Let

3.89%

Reverts to 5.10%

2

Years

75%

YesMore Info >
  • Available to all customers
  • Product fee of £999
Fixed
Buy to Let

4.79%

Reverts to 5.10%

2

Years

80%

YesMore Info >
  • Available to all customers
  • Product fee of £999
Fixed
Buy to Let

4.99%

Reverts to 5.10%

5

Years

80%

YesMore Info >
  • Available to all customers
  • Product fee of £999

*APR = Overall Cost for Comparison

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above buy to let mortgage products are a selection of deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063