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.

More choice for interest-only borrowers

“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.”