Plenty of options for buy-to-let

There are now 3,528 buy-to-let products on offer to landlords, the highest number recorded by Moneyfacts since 2007.

The financial information provider said products rose by 222 in the last month alone and are up by 945 since the start of the pandemic.

There has also been a rise in the number of products on offer to landlords with smaller deposits or levels of equity, indicating a level of confidence in the sector.

After falling to only four deals on offer in November 2021, there are now 28 products available at 85% of the property’s value, the highest this number has been since March 2020 and a vast improvement on last year, when January 2021 saw no options available in this bracket.

The average two-year fixed buy-to-let rate has risen for the second month in a row, rising by 0.04% to 2.94% – the highest this has been since September 2021 (2.94%).

The average five-year fixed rate has remained at 3.18% since October 2021

Landlords looking to secure a five-year fixed rate in the brackets between 65% and 80% LTV will find that the average five-year fixed rates in these tiers fell month-on-month, which is great news for those hoping to protect themselves from potential future rate rises with the stability of a mid-term fixed rate deal.

Those who took out a 75% LTV five-year fixed rate in 2017 and are looking for an equivalent deal now will find that, at 3.19%, the average rate is 0.70% lower now than when they secured their previous deal.