Average buy-to-let (BTL) rates for some typical two-year fixed rate deals favoured by landlords have doubled since the start of the year, according to the latest data from Property Master.
Property Master’s Mortgage Tracker, which follows 30 lenders, found that the average rate for a typical £160,000 BTL mortgage fixed for two years for a loan to value (LTV) of 60% had more than doubled since the start of this year, rising from 1.69% in January to 3.43% in August.
This increases the monthly cost including fees by £232 from £262 to £494.
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