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Buy-to-let mortgage rates falling, says broker

Buy-to-let mortgage rates falling, says broker

Buy-to-let mortgages are getting cheaper, with a drop in average rates of 0.33% in the second quarter of this year.

 Mortgage broker TBMC said that the average fixed rate was 4.15%, down from 4.48% in the first quarter, while the average variable rate was 4.35%, down from 4.68%.

 TBMC also said that there are now more buy-to-let deals at 75% loan to value and above, allowing landlords to take out bigger loans on the properties, although only one lender – Kent Reliance – offers 85% mortgages for buy-to-let borrowers.