The number of buy-to-let products landlords have to choose from has reached a record high of 3,560, analysis from Moneyfacts has revealed.
This means there are over 1,300 more products than two years ago, in February 2023, when landlords had 2,246 to choose from.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “Landlords searching for a new deal will find the choice of buy-to-let mortgages has hit a record high, which could instil a sense of optimism.
“Views are mixed on how the buy-to-let market will fare this year, but lenders are clearly working hard to attract new business, such as those launching new deals at higher loan-to-value ratios, and even deals created for a limited company.
“Diving into the overall choice of buy-to-let mortgages shows there are still more deals with a fixed term of five years, versus two years, and both counts are at record highs.
“Five-year fixed buy-to-let mortgages have been in more abundance than their two-year counterparts since June 2020.”
Average 2-year fixed rate buy-to-let rates are cheaper than a year ago, at 5.40% compared to 5.49%.
This includes a big reduction in the cost of 60% LTV 2-year fixes, where rates dropped from 5.22% to 4.87%.
The cost of 5-year fixed rates has risen however, from 5.48% in February 2024 to 5.56% today. The average cost of 75% LTV 5-year fixes rose from 5.51% to 5.60% over the period.
