Buy to Let Mortgages Availability Improved by 100%

Analysis of the UK mortgage market performed by Defaqto, independent financial research group, revealed that the availability of buy to let loans improved by 104% since 2008.

In the past three years, the number of mortgages increased more than twice, with many of them becoming available only through mortgage brokers. As such, in October 2008, there were 237 buy to let loans available to investors and landlords; now, this figure has reached 483. The proportion of broker-only products has increased from 24% in 2008 to 60% in 2011.

Meanwhile, the number of mortgage lenders offering buy to let deals also increased in the past 3 years. Now, there are 63 specialised lenders, 18 of which work with customers only, 15 - with brokers only, and 30 - with both.

Commenting on the findings, Mr. Black of Defaqto, said: "...although the buy to let sector has contracted in terms of lending levels in recent years, the market is certainly becoming more buoyant with buy to let regarded by many as a potential growth area."