Number of BTL mortgages available now at 10 year high
The number of buy-to-let mortgages available has risen to its highest level in almost 10 years according to figures taken from the latest Moneyfacts UK Mortgage Trends Treasury Report.
The latest Moneyfacts UK Mortgage Trends Treasury Report, due to be published later this week, show that the number of buy-to-let (BTL) products has increased by 7% in just one month to total 1,725, up from 1,613 in August and the highest figure seen since December 2007, when 1,942 products were available.
Charlotte Nelson, finance expert at Moneyfacts, commented on the findings:
“The BTL market has had an understandably bumpy ride of late, considering all the regulation and tax changes it has had to contend with. Despite this, the market seems to be buoyant, with the number of available products reaching its highest point since the 1,942 products that were recorded in December 2007, almost a decade ago.
“The market has clearly recovered from the tougher affordability rules that were put in place on 1 January, when it saw a dramatic drop in the number of products available to landlords. Since then, the number of deals on offer has gone from strength to strength, culminating in a rise of 7% this month, the highest month-on-month growth Moneyfacts has seen in 2017.”
Read the Moneyfacts UK Mortgage Trends Treasury Report Sept 2017 in full click here.
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