• Business mortgage: share of purchase and remortgaging UK 2019

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Business mortgages, or buy-to-let (BTL) mortgages, are a loan sold to property investors, rather than to people who want to purchase a home to live in. As of the fourth quarter of 2019, remortgaging dominated the BTL lending market, accounting for between 58 and 81 percent of mortgage transactions.

Distribution of purchase and remortgage lending transactions of buy-to-let properties in the United Kingdom as of 4th quarter 2019, by property type

	Purchase	Remortgage
-	-	-
-	-	-
-	-	-
-	-	-

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Release date

February 2020

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Region

United Kingdom

Survey time period

4th quarter 2019

Supplementary notes

The source adds the following information: "A house in multiple occupation (HMO) is a property that is rented out by at least 3 people who are not from 1 ‘household’ (for example a family), but share facilities such as the bathroom and kitchen.

Multi-unit freehold blocks (MUFB) This is a single building with multiple, separate, independent residential units owned under a single freehold title. Examples include purpose-built blocks of flats or Victorian/Edwardian houses converted into flats.

Semi-commercial property, also known as mixed use investments, as both names suggest these properties are made up of part commercial and part residential elements, typically shops or offices with flat above.

Vanilla buy-to-let - these are standard buy to let transactions. Properties in this category tend to be normal 2-3 bed houses and 1-2 flats. Both borrowers and properties fit the general lending criteria for off-the-shelf products offered by the mainstream buy to let lenders."