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Number of buy to let products reaches two and a half year high

Landlords looking to boost their portfolios will find they have more mortgage products to choose from than at any time since October 2008.

Landlords looking to boost their portfolios will find they have more mortgage products to choose from than at any time since October 2008.


According to research by Moneyfacts.co.uk, the number of buy to let products available to property investors stands at a two-and-a-half year high, with 463 deals on the market.


This represents an increase on the 299 recorded in May 2010.


In addition, more lenders have entered the market, with the research revealing that there are currently 64 companies offering buy to let products.


The average rate available to those with buy to let home insurance has fallen from 5.30 per cent seen last May to 4.97 per cent.


"These latest figures, particularly the reduction in the average rate, suggest that the buy to let market could be returning to a competitive state," Moneyfacts.co.uk spokesperson Louise Holmes said.


David Lawrenson, private rented sector expert at LettingFocus.com, made a similar point recently, stating that the sector looks encouragingly healthy at the present time and the picture looks bright going forward.


Posted by Daniel Ohio

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