Typical buy-to-let 5-year fix now lowest on record

The average buy-to-let 5-year fix has now fallen to 3.40% – the lowest on record, Moneyfacts research shows.

Average 5-year fixes were priced at 3.77% in October 2016 before falling to 3.43% in October 2017.

Charlotte Nelson, finance expert at Moneyfacts.co.uk, said: “The buy-to-let market has been on a rollercoaster ride in recent years, with not only two base rate rises to contend with, but multiple regulation and tax changes thrown into the mix.

“With all these elements, many would have assumed that rates would rise as a result.

“However, the opposite appears to be the case, particularly for the long-term fixed rates, with the average 5-year fixed mortgage rate falling by 0.05% in just one month to reach the lowest on record.”