Buy to let offerings reach 2,000

05 December 2006
According to a financial product comparison resource, the number of buy to let mortgage offerings available to the UK market has broken the 2,000 mark for the first time ever.

Since the beginning of 2006 the number of intermediary and direct business mortgage products available to customers has increased by 50 per cent, and 100-fold since 1997.

The data, compiled by comparison website, indicates significant growth in the sector over the last few years.

Senior analyst Alan Harper said: "Not only is there plenty of evidence indicating the volume of new buy to let borrowing is increasing, but buy to let is also claiming a much larger proportion of the UK's overall mortgage market."

The Council of Mortgage Lenders said that in the first half of 2004 buy to let represented around eight per cent of the total new mortgage borrowing in the UK, while for the first half of this year the figure is over 11 per cent.

Individual lenders are also expanding buy to let product ranges to meet demand in the sector. Even specialist lenders have as many as six times the number of buy to let products on offer, the research found.

For more information about buy to let mortgages, click here.

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