Share
Landlords looking to lock into a fixed buy-to-let (BTL) mortgage deal will be pleased to see that the average two and five year fixed rates have fallen since the start of May and are currently at their lowest levels since the beginning of this year.
Our research into the BTL mortgage market has found that since the start of this month, the average two year fixed BTL rate has fallen by 0.04%, down from 2.99% on the 1 May to 2.95% on the 21 May. Meanwhile, the average five year fixed BTL rate has fallen by 0.05% during this same period, down from 3.35% to 3.30%. “This seems to show an appetite for business from lenders to cater to borrowers who are keen to invest,” explained Eleanor Williams, finance expert at Moneyfacts.co.uk. “Indeed, as providers continue to tweak their ranges, we have seen rate reductions of as much as 0.90% from TSB, while Virgin Money made cuts of up to 1.06% on a selection of its products this month.”