Big rise in mortgage choice for buy to let and owner occupier sectors
The number of mortgage products has more than doubled for buy to let and owner occupier sectors over the past two years, according to new data released by sourcing operator Mortgage Brain.
An additional 5,172 mortgage products have been introduced into the UK market since the end of June 2015, representing a 108 per cent increase.
The number of buy to let mortgages has seen an even more dramatic increase over the same period with 2,634 products – up 149 per cent from the 1,058 in June 2015.
Mortgage Brain’s latest analysis also shows a breakdown of product availability by loan-to-value ratio for all mainstream lender products.
While representing the smallest product type by volume, 90 per cent-plus LTV products have shown the strongest performance over the past two years – increasing by 137 per cent from 187 in June 2015 to now stand at 443.
An additional 3,961 products over the past two years represents almost a doubling in the number of products with a 60 per cent LTV or more with 8,034 products currently available.