The price comparison site said that buy-to-let fixed rates are now at their lowest level since the start of September 2022.
Average fixed rates over two- or five-year fixed terms fell month-on-month and have remained below 6% since the start of 2024. Both are now at 5.24%.
Overall buy-to-let product availability (fixed and variable) rose month-on-month to 3,277. Product choice is greater year-on-year, and is at its highest level for over two years.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “The buy-to-let market has had its fair share of challenges over the years, so landlords might find it encouraging to see fixed interest rates have been on the downward trend.
“There are also many more deals for borrowers to choose from, as lenders have been adjusting their ranges to accommodate demand. These are positive signs for prospective landlords, but there are numerous other factors to consider before taking the leap into the buy-to-let sector, not just the cost of a mortgage. The margin of profit from rental income may well be tighter than expected, but property is still regarded as a safe long-term investment.
“Landlords will be on tenterhooks to see how the upcoming Budget will play out and lenders may remain fluid with their fixed rate pricing over the next few weeks, particularly due to volatility surrounding swap rates. Any borrowers concerned about their present situation would be wise to seek independent advice if they need support or indeed to navigate the latest deals if they are due to refinance in the next few months.”