Buy-to-let rates are falling across the industry as lenders compete for business, Mortgage Brain research has revealed.
The cost of 2-year fixes at 60% and 70% LTV are 4% lower than three months ago, while 60% and 70% 2-year trackers are down 1% and 2% from May 2017 respectively.
With longer-term deals 3 and 5-year fixes at 60% and 5-year fixes at 80% LTV have fallen by 3%.
Mark Lofthouse, chief executive of Mortgage Brain, said: “Despite the forthcoming changes to buy-to-let lending, the outlook for investors at the moment is extremely favourable with buy-to-let mortgage costs coming down yet again.
“With changes afoot, however, this could soon change and it will be interesting to see how the buy-to-let story unfolds over the next three months.”