Buy-to-let mortgage rates getting cheaper
The average price of buy-to-let fixed and tracker mortgages is the lowest on record, according to figures from Moneyfacts.co.uk.
The number of buy-to-let mortgage products has risen from 757 to 811 in a month, while the average price of a two-year fix has fallen 0.4% in the last year to 3.82%.
The average price of a two-year variable buy-to-let mortgage now stands at 3.36% - down 0.54% from February 2014.
"When you consider how dire savings rates are it is hardly surprising that BTL is proving popular with investors, and this is likely to increase once the rules relaxing the drawdown of pension pots in April come to fruition," said Sylvia Waycot, editor of Moneyfacts.co.uk.
The lowest buy-to-let two-year fixed rate mortgages are available below 2.5% while the leading five-year fixes are priced below 3.5%.
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