Landlords have been given a boost after the number of buy-to-let mortgage products on the market hit a 14-year high
In January, there were 3,528 buy-to-let products available – the largest number since September 2007 and 945 more than were available in January 2020. Data from Moneyfacts also revealed a rise in the number of products available for landlords with smaller deposits or lower levels of equity.
In November 2021, only four products were available for landlords buying at 85% loan-to-value (LTV).
Now, though, there are 28 – the highest number since March 2020 and a huge indication of soaring confidence in the rental sector.
Landlords looking for a long-term fixed rate mortgage deal, meanwhile, will find that the average five-year rate remains at 3.18% – despite the December rise in the Bank of England’s base rate.
Eleanor Williams of Moneyfacts said: “Landlords looking to secure a five-year fixed rate in the brackets between 65% and 80% LTV will find that the average five-year fixed rates in these tiers fell month-on-month, which is great news for those hoping to protect themselves from potential future rate rises with the stability of a mid-term fixed rate deal.
“Those who took out a 75% LTV five-year fixed rate in 2017 and are looking for an equivalent deal now will find that, at 3.19%, the average rate is 0.70% lower now than when they secured their previous deal.
