In this age group, the average loans were at £152,963. The age group received fractionally more, or +0.7%, than those who are aged 50 to 59 years old, whose average loans were £151,621.
Uswitch’s report also shows that London has the highest average buy-to-let loan value among the regions in the UK. The average value of a buy-to-let loan for a new property purchase in London was £272,052 in March, which is 30% more than any other region.
Uswitch found that over 83,000 buy-to-let mortgages were approved by lenders in the UK in 2023. These mortgages accounted for 7.5% of total lending last year.
The total buy-to-let mortgage advances in Q3 2023 were valued at £4.7 billion, which is 10% more than the previous quarter but 57% less than the same time in 2022.
The 2024 report also shows Lloyds Bank has the largest share of the UK mortgage industry, accounting for just under 17% of the market.