The number of buy-to-let mortgages available to landlords has hit a 10-year high this month, increasing by a third in the past year – and rates are dropping too.
The news is sure to be music to the ears of buy-to-let investors, who have faced sweeping tax changes in the last couple of years.
But with more lending restrictions set to come into force at the end of the month, is this level of competition between lenders likely to continue?
Number of deals at a 10-year high
According to data from Moneyfacts, the number of deals available to landlords reached 1,735 earlier this month, the highest number since December 2007 and a 7% increase month-on-month.
Most significantly, this new high represents a massive 28.8% increase from the 1,339 deals recorded in the same month last year.
The surge has also had an effect on interest rates, with the average two-year fixed-rate deal reaching 2.86% this month – down from 2.91% in August.