The number of buy-to-let mortgages on the market has doubled over the last three years, according to Defaqto.
The financial research company says the number of deals has increased by 104 per cent from 237 in October 2021 – at the height of the credit crunch – to 483 now.
The number of buy-to-let lenders has increased from 56 to 63. Of these, 15 operate only through intermediaries, 18 only distribute directly and the other 30 service both channels.
Defaqto says intermediary-based loans are now more prevalent. Over the same period the proportion of products only available through brokers has grown from 24 per cent to 60 per cent.
Meanwhile 86 per cent of deals are now available as broker-only products or through both intermediaries and providers directly, compared to 70 per cent in 2021.
David Black, Defaqto‘s insight analyst for banking, 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.”
“Our analysis also indicates that intermediaries are becoming ever more important within the specialist buy to let mortgage sector, with the number of brokered products increasing rapidly since 2021.”
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