Number of buy-to-let mortgage rates at seven-year high
The number of buy-to-let mortgage rates on offer has hit a seven-year high, according to figures from Moneyfacts.co.uk.
Research by the data provider shows there are now 1,011 buy-to-let mortgage deals available, up from 681 at this point last year and substantially up from the low of 460 recorded two years ago.
Many banks and building societies are offering their cheapest ever buy-to-let rates. It is possible to lock into a two-year fix at just over 2% or a five-year fix at 3.10%, although you will need a 40% deposit to qualify.
Charlotte Nelson of Moneyfacts.co.uk said: “The boom in deals has undoubtedly been boosted by providers taking advantage of the new demand from thousands of pensioners making the most of the new pension freedoms, fuelling competition in the sector.”
For help to secure a buy-to-let mortgage, call Trinity on 020 7016 0790.
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