Buy-to-let landlords have also seen an increase in mortgage product availability, with a 6.2% rise in the last three months, also up 2.5% since December.
As a result, but-to-let mortgage products now account for a fifth of all products in the current market.
Home movers (5.6%) and remortgagers (3.2%) have also benefited from a quarterly uplift in product availability, with both segments of the market also seeing substantially more choice versus the end of last year, with respective increases of 10.8% and 9%.
Octane Capital chief executive Jonathan Samuels says: “We’re yet to see interest rates fall despite inflation now seemingly under control, but given the prolonged period of economic uncertainty that has enveloped the nation and the Bank of England’s cautious approach in managing it, it’s no surprise that it’s been deemed too early to cut rates.
“The good news is that since the base rate has been held at 5.25%, a greater degree of stability has returned to the mortgage sector and the wider property market.
“As a result, lenders have been increasing the number of products available to all buyer segments and this greater level of choice not only benefits buyers, but demonstrates confidence in the market.
“With a rate cut on the horizon, it’s shaping up to be a far stronger year for the property sector and we’ve already seen signs of a return to form emerging since the start of the year.”
