Buy to let lending has been on fire over the past several years. Entering this year, the sector was moving along similar to other types of mortgage lending. Landlords were increasing the value of their portfolios and purchasing more property for let. Renters have been in such high demand that landlords had little choice but to attempt to keep up. The latest data is now painting a new picture of the buy to let sector. The month of May appears to be a turning point in the growth of buy to let overall.

May economic figures prove a sector can begin to show signs of slowing down. In year on year comparison, the volume of buy to let mortgage lending fell almost 10%. Only 5,500 buy to let mortgage purchases were completed during the month.

By the amount in pounds, the difference year on year is even more indicative of a change in momentum. Compared to May 2017, this year totaled more than 22% less in buy to let mortgage lending. The total for the month was £0.7bn in lending.

By comparison, remortgage buy to let lending is on fire. Almost 15,000 buy to let remortgages were completed during the month of May. This is an increase of 15% compared with May of last year. This also was an increase in value compared with last year of 21.1%.

Remortgage remains a strong tool of opportunity for not just those interested in buy to let. Home owners are still obtaining strong remortgage deals which feature not only low interest rates, but incentives as well. Housing experts remain on the side of favourable whilst speaking about remortgage now compared with later.