Table 1: Ranking of top ten buy-to-let mortgage lenders by gross advances, 2005 to 2006 5
Table 2: All top ten UK mortgage lenders have a presence in buy-to-let , May 2007 37
Table 3: List of buy-to-let mortgage lenders, March 2007 39
Table 4: Ranking of top ten buy-to-let mortgage lenders by gross advances, 2005 to 2006 40
Table 5: Buy-to-let gross advances and market share for the top eight buy-to-let lenders, 2006 42
Table 6: Maximum property portfolio for the top ten buy-to-let lenders, March 2006 and 2007 45
Table 7: Maximum LTV offered by the top ten buy-to-let lenders, March 2005 to 2007 46
Table 8: Maximum borrowing amount for the top ten buy-to-let lenders, March 2005 to 2007 47
Table 9: Average interest rate of top ten buy-to-let lenders and the base rate, March 2005 to 2007 49
Table 10: Forecast of buy-to-let gross advances under Datamonitor View scenario, 2006 to 2011f 58
Table 11: Forecast of buy-to-let gross advances under an Optimistic scenario, 2006 to 2011f 59
Table 12: Forecast of buy-to-let gross advances under a Pessimistic scenario, 2006 to 2011f 61
Table 13: Buy-to-let gross advances and number of loans, 1999 to 2006 62
Table 14: Buy-to-let gross advances market share, 1999 to 2006 62
Table 15: Indexed growth rate of buy-to-let and self-certification mortgages, 2002 to 2006 62
Table 16: Buy-to-let loans and first-time buyer loans, 2002 to 2006 63
Table 17: Annual house price growth on a quarterly basis, Q1 2003-Q4 2006 63
Table 18: Average size of a buy-to-let loan, 2002 to 2006 63
Table 19: Have you seen an increase in demand from first-time buy-to-let investors in 2006?, March 2007 64
Table 20: Have you seen an increase in demand from existing buy-to-let investors in 2006?, March 2007 64
Table 21: Quarterly change in Average Annual Rate of Return (Geared investment), Q1 2006 – Q4 2006 65
Table 22: Which of the following regions in the UK are the top 3 hot spots for BTL investors?, March 2007 65
Table 23: Migration inflow to the UK, 1996 to 2005 66
Table 24: In which way has competition among lenders intensified in the BTL sector?, March 2007 66
Table 25: What proportion of your BTL customers have an adverse credit story? March 2007 67
Table 26: In your opinion, have you seen an increase in demand for BTL from customers with an adverse credit story?, March 2007 67
Table 27: Please rate how important the following factors have been in your choice to use your number one lender more than any other, March 2007 68
Figure 1: The buy-to-let market saw a significant increase in both gross lending and number of loans in 2006, 1999 to 2006 2
Figure 2: The majority of mortgage intermediaries interviewed stated that they saw an increase in buy-to-let gross advances in 2006 3
Figure 3: Intensifying competition among lenders is being reflected in a number of areas, March 2007 6
Figure 4: Under the Datamonitor View scenario, buy-to-let gross advances will reach £45.4 billion in 2007 7
Figure 5: The buy-to-let market saw a significant increase in both gross lending and number of loans in 2006, 1999 to 2006 14
Figure 6: The majority of mortgage intermediaries interviewed stated that they saw an increase in buy-to-let gross advances in 2006 15
Figure 7: Buy-to-let gross advances accounted for 11.1 per cent of the UK mortgage market in 2006, 1999-2006 16
Figure 8: The buy-to-let mortgage sector has outperformed the self-certification mortgage market over the last five years, 2002 to 2006 17
Figure 9: The number of buy-to-let loans advanced in recent years has increased considerably whereas loans advanced to first-time buyers have fallen below previous levels, 2002-2006 18
Figure 10: Data from both Halifax and Nationwide highlights that house price growth picked up in 2006 after appearing to cool down , Q1 2003 – Q4 2006 22
Figure 11: The average size of a buy-to-let loan has increased over the years, 2002 to 2006 23
Figure 12: Demand for buy-to-let remains dominated by experienced investors, March 2007 24
Figure 13: Of the intermediaries stating that they have seen an increase in demand from first-time buy-to-let investors, a higher proportion stated that this increase was less than ten per cent, March 2007 25
Figure 14: 33.3 per cent of intermediaries who witnessed an increase in demand from existing investors in 2006 stated that this rise was between ten and twenty per cent, March 2007 26
Figure 15: Average rates of return fell in H2 2006 partially as a result of increases in the base rate, Q1 2006 to Q4 2006 27
Figure 16: Prime Central London and the North West are the top two regions for buy-to-let investors, March 2007 28
Figure 17: Roughly 565,000 individuals migrated into the UK in 2005, a 77.7 per cent increase over 1996 level, 1996 to 2005 29
Figure 18: The majority of intermediaries interviewed by Datamonitor believed that the buy-to-let mortgage market will grow steadily in the future, March 2007 30
Figure 19: The structure of the buy-to-let mortgage market, June 2007 35
Figure 20: Small building societies dominate in number in the buy-to-let mortgage sector, March 2007 36
Figure 21: The top three lenders accounted for 39.4 per cent of buy-to-let gross advances in 2006 41
Figure 22: 89.8 per cent of intermediaries surveyed stated that competition among lenders has intensified, February 2007 43
Figure 23: Intensifying competition among lenders is being reflected in a number of areas, March 2007 44
Figure 24: Despite a rising base rate in 2007, the differential between the average interest rate on a buy-to-let mortgage and the base rate has fallen consistently, March 2005 to 2007 48
Figure 25: The proportion of intermediaries’ customers accounted for by the sub-prime segment in buy-to-let is small, March 2007 50
Figure 26: The majority of intermediaries who saw an increase in sub-prime buy-to-let customers recorded less than a ten per cent increase, March 2007 51
Figure 27: 61.7 per cent of intermediaries surveyed believe that sub-prime buy-to-let will grow in the future, March 2007 52
Figure 28: 83.7 per cent of intermediaries consider competitive pricing as being very important when choosing their number one player, March 2007 54
Figure 29: Under the Datamonitor View scenario, buy-to-let gross advances will reach £45.4 billion in 2007 57
Figure 30: Under the Optimistic scenario, buy-to-let gross advances will occupy a 19.9 per cent share of total mortgage gross advances in 2011 59
Figure 31: Under the Pessimistic scenario, buy-to-let gross advances will contract in 2007 and 2008 but will still fare better than the wider mortgage market 60
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