Mortgage costs for buy to let property investments have stabilised at record lows, according to the latest analysis from Mortgage Brain.
Annually, costs have continued to fall, making it cheaper than ever to invest in rental property. For example, an 80 per cent LTV two-year fixed rate mortgage now costs 11 per cent less than this time last year, and 18 per cent lower than the start of 2014.
The lowest rate three-year fixed buy to let product with an 80 per cent LTV at 3.39 per cent is now 16 per cent lower than three years ago, and down 10 per cent in comparison to 2016. Those seeking long term deals are also set to benefit from market wide reductions, with the cost of a 60 per cent LTV five year deal down 15 per cent in comparison to 2014, whilst five year fixed rate products at 70 per cent are down 14 per cent and 80 per cent down 11 per cent.
Mortgage Brain chief executive, Mark Lofthouse, said: ‘The buy-to-let sector looks like it could be levelling out and moving away from the long period of historic lows in terms of costs and rates. Investors can still take advantage of some good savings and low rates when compared to this time last year, however, the mixed and marginal movement in costs over the past three months could be seen as a further sign of stability, or even the start of a period of rises.’