Buy-to-let deals on the increase with confidence growing

Despite a small reduction of 27 products since the start of this month, at 1,976, overall BTL product availability is still at the highest level seen since March 2020. This figure however remains far below pre-pandemic levels.

0% LTV remains the highest available tier, and in this tier the number of deals available has risen by 26 since December, indicating lender confidence is growing.

Both the average 2-year fixed rate for all LTV brackets (2.92%) and the equivalent average 5-year fixed rate (3.29%%) have risen to the highest levels since November 2019. At all LTV tiers, average rates are currently higher than recorded in January 2020.

Research inferred that demand for rental properties has remained strong as a result of the pandemic leading consumers to prefer the shorter-term financial commitment of renting, as opposed to the cost and commitment involved with purchasing their own property in these uncertain times.

This trend has been borne out in our latest research, by the positive increase in availability of BTL mortgage products since November, resulting in landlords having the highest number of deals to choose from since March 2020. Following an overall increase of 158 since December, there are now 1,976 BTL products on offer, with growth being seen across nearly all the LTV tiers. It is especially positive for landlords with lower levels of deposit or equity, as this growth has extended to the slightly higher-risk 80% LTV bracket.

If you are looking for a new or re-mortgage, please do make contact and one of our fully qualified independent advisers will be happy to assist.