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. In the second quarter of 2022, most of mortgage loans were remortgages. Flats had the highest share of property purchases, with 44 percent of purchase mortgages. In contrast, houses in multiple occupation (HMOs) had the lowest share of purchase loans at 16 percent.
Distribution of purchase and remortgage lending transactions of buy-to-let properties in the United Kingdom as of 2nd quarter 2022, by property type
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."
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Mortgages for Business. (October 5, 2022). Distribution of purchase and remortgage lending transactions of buy-to-let properties in the United Kingdom as of 2nd quarter 2022, by property type [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1121139/buy-to-let-purchase-and-remortgaging-share-by-property-type-united-kingdom/
Mortgages for Business. "Distribution of purchase and remortgage lending transactions of buy-to-let properties in the United Kingdom as of 2nd quarter 2022, by property type." Chart. October 5, 2022. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1121139/buy-to-let-purchase-and-remortgaging-share-by-property-type-united-kingdom/
Mortgages for Business. (2022). Distribution of purchase and remortgage lending transactions of buy-to-let properties in the United Kingdom as of 2nd quarter 2022, by property type. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1121139/buy-to-let-purchase-and-remortgaging-share-by-property-type-united-kingdom/
Mortgages for Business. "Distribution of Purchase and Remortgage Lending Transactions of Buy-to-let Properties in The United Kingdom as of 2nd Quarter 2022, by Property Type." Statista, Statista Inc., 5 Oct 2022, https://www.statista.com/statistics/1121139/buy-to-let-purchase-and-remortgaging-share-by-property-type-united-kingdom/
Mortgages for Business, Distribution of purchase and remortgage lending transactions of buy-to-let properties in the United Kingdom as of 2nd quarter 2022, by property type Statista, https://www.statista.com/statistics/1121139/buy-to-let-purchase-and-remortgaging-share-by-property-type-united-kingdom/ (last visited December 21, 2024)
Distribution of purchase and remortgage lending transactions of buy-to-let properties in the United Kingdom as of 2nd quarter 2022, by property type [Graph], Mortgages for Business, October 5, 2022. [Online]. Available: https://www.statista.com/statistics/1121139/buy-to-let-purchase-and-remortgaging-share-by-property-type-united-kingdom/
