Have you ever considered being a Landlord? Perhaps you’re a seasoned property investor who is looking to expand their portfolio? Whoever you are, it’s a great time to consider your options – research from Moneyfacts reveal that not only are the number of buy-to-let mortgages on the rise, but the deals are becoming cheaper too.
The figures show a dramatic rise in the number of buy-to-let mortgages available in recent years, up from 476 two years ago to 745 today – nearly a 300 product increase in the space of 2 years. Two years ago, there were a total of five two-year fixed rate buy-to-let deals priced below 3%, but today this figure has risen to 83. There is a similar tale for the number of five-year buy-to-let deals priced below 5% - two years ago there were 37 mortgages available, however today there are 143.
Rates have also fallen dramatically, with the average two-year fixed rate buy-to-let deal currently priced at 3.45%, which is down from 4.44% two years ago. The average five year deal standing at 4.25%, down from 4.67%.