The number of buy to let products on the market has passed 550, as lending increased throughout 2013 on the back of a positive property market.
The number of products in the buy-to-let sector topped 550 in the final quarter of 2013, according to the Mortgages for Business Complex Help to Buy Index.
New purchases comprised a large proportion of lending in Q4, with standard buy-to-let lending seeing the largest shift towards new purchases at 47%.
This represents an increase from the 31% seen at the start of 2013, and even in the 38% registered at the end of Q3.
Purchases of more complex properties including houses in multiple occupation and multi-unit freehold blocks were also popular among landlords.
The increase in buy-to-let lending and the number of products on the market showcases the current positivity surrounding the sector, while remortgaging activity is also down.
David Whittaker, Managing director of Mortgages for Business, said: “At the end of 2013 landlords could choose between more than 500 mortgage products – the figure today now tops 550. With demand for tenancies as strong as ever, landlords are making use of a more buoyant situation to boost their portfolios.”
This increase in property investment comes as landlords use the current housing market conditions to their advantage.