Searches for buy-to-let mortgages surged in March, according to data from mortgage technology platform Twenty7tec.
The strongest growth came in the £150,000–£250,000 price band, where buy-to-let searches increased by 22.9% compared with the previous month. By contrast, residential mortgage searches rose by 6.4% over the same period.
The data also showed that 18 March was the platform’s busiest day on record for buy-to-let mortgage searches, with volumes doubling compared to the previous day.
Nathan Reilly, director at Twenty7tec, said: “As new changes appear on the horizon, we are noticing that landlords are acting more decisively when it comes to their next steps, and we’re seeing a significant increase in buy-to-let remortgages as property investors look to future-proof their portfolios.
“The spike in searches for properties between £150,000 and £250,000 is particularly telling. That price band is seeing the greatest change in activity, and it’s BTL, not residential, that’s driving it.”
The number of available buy-to-let mortgage products also hit a new high in March, reaching 25,218 – an increase of 128 compared with February.
Reilly added: “There’s more choice than ever for buy-to-let landlords, but with external pressures mounting, the next few months will be telling as to whether landlords stay the course, adapt their strategies – or begin to exit the market altogether.”
