Buy-to-let mortgage rates falling

As tax changes force landlords out of the market, lenders are lowering their buy-to-let rates to lure in new business. The average two-year fixed rate buy-to-let mortgage rate has dropped from 3.09% two years ago to 2.90% at present, with the average five-year fixed rate down from 3.77% two years ago to 3.40% in October. Top for two-year fixed rates is Sainsbury’s Bank, with a 1.40% interest rate at 60% loan-to-value and a £1,745 fee, while top for five-year fixed rate deals is The Mortgage Works, which is offering a 1.99% interest rate at 50% loan-to-value and a £2,335 scheme fee.

Source:   Daily Mail (10/10/2018)