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Derin Clark

Derin Clark

Online Reporter
Published: 30/03/2021
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The number of buy-to-let (BTL) mortgage deals available is at its highest level since the pandemic began impacting the UK economy in March 2020, but at the same time rates have risen to a two-year high.

Research carried out by found that there are now 2,333 BTL mortgage deals available to landlords, which is the highest number seen since March 2020 when there were 2,897 deals. While this has resulted in more choice for landlords, average rates have also risen during this time and the average five year fixed BTL rate now stands at 3.41%, its highest level since September 2019 when it reached 3.44%. Meanwhile, the average two year fixed BTL rate currently stands at 3.05%, and again this is the highest it has been in nearly two years, when it also stood at 3.05% in June 2019.

As the below table shows, year-on-year the average rates on both two and five year BTL mortgage deals at 60% loan-to-value (LTV) and 80% LTV have increased. Saying this, lower than average rates are available in the BTL mortgage charts, as Eleanor Williams, finance expert at, explained: “It is important to note though that these are averages, and therefore while representative of the market as a whole, there are some very competitively priced products available, with some – depending on LTV and criteria – available at below 2%. Therefore, those who are hoping to refinance or take on a new deal would do well to shop around.”


Buy-to-let mortgage market analysis
  1 March 2020 1 March 2021
BTL product count - fixed and variable rates 2,897 2,333
BTL two year fixed - all LTVs 2.77% 3.05%
BTL two year fixed - 80% LTV 3.56% 4.14%
BTL two year fixed - 60% LTV 1.89% 2.14%
BTL five year fixed - all LTVs 3.24% 3.41%
BTL five year fixed - 80% LTV 3.98% 4.29%
BTL five year fixed - 60% LTV 2.31% 2.52%


Along with the increase in rates, landlords may also be disappointed with our findings that show on the percentage of deals that offer an incentive, such as free valuations or no legal fees, has also fallen year-on-year. “Although interestingly, the proportion of the market where cashback is available has increased, not only year-on-year, but by 8% over the last month,” Williams revealed.

This means that although lenders have been withdrawing some incentives and increasing rates, there are still good deals available and landlords would be wise to check the BTL mortgage charts to see what is available and consider speaking to a mortgage broker who will be able to highlight the best deals for their individual requirements.

Thinking about becoming a landlord?

If you are thinking about buying your first BTL property, read our guide on five steps to becoming a BTL landlord for more information. You can also see what BTL mortgage deals are available to first-time landlords by visiting our first-time landlord mortgage chart.


Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

row of residential houses

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