Rise in BTL mortgage rates by record amount

This year has been a trying one for the buy-to-let (BTL) mortgage market, with not only several regulation changes to tackle but a base rate rise thrown in for good measure. It’s the latter in particular that has had an impact on rates, with our latest research showing that the average two-year tracker BTL mortgage rate has risen by 0.20% since the 2 November Announcement, the highest monthly rise on record.

It’s an inevitability, but one that still won’t be welcomed by borrowers, particularly those who have only ever known a time of continually falling mortgage rates. Yet as the table below shows, the average two-year tracker rate now stands at 2.43%, above last year’s figure of 2.40% and notably higher that November’s record low of 2.23%, having risen substantially since the base rate rise.

You can read the full article published in Money Facts

Image credit: rawpixel on Unsplash

By Clicking the above link(s), you will be departing from the regulated site of The Mortgage Choice. Neither The Mortgage Choice nor Stonebridge Mortgage Solutions Ltd are responsible for the accuracy of the information contained within the linked site