The financial information provider said that overall buy-to-let product availability (fixed and variable deals) rose to 3,560 deals, the highest count on its records.
It also noted a rise in the last month alone of 92 five-year fixed deals, and 114 two-year fixed deals.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “Landlords searching for a new deal will find the choice of buy-to-let mortgages has hit a record high, which could instil a sense of optimism.
“Diving into the overall choice of buy-to-let mortgages shows there are still more deals with a fixed term of five years, versus two years, and both counts are at record highs. Five-year fixed buy-to-let mortgages have been in more abundance than their two-year counterparts since June 2020.”
Lower rates
Moneyfacts added that the average two-year fixed rate has fallen over the past six months and the past year.
Your Mortgage Awards 2024/25: winners revealed
Sponsored by Your Mortgage Awards
However, average fixed rates over two- or five-year fixed terms ticked up month-on-month. The average two-year fix is 5.4% and the avereage five-year fixed rates are 5.56%.
Springall added: “The downside of the past few years has been volatile interest rates; thankfully, compared to 2023, buy-to-let mortgage rates are lower, across two- and five-year fixed terms.
“However, if someone locked into a cheap deal back in 2020, they will be in for a shock this year when they come to refinance. Landlords will hope rates come down this year, but sticky inflation can delay further base rate cuts, and the swap rate market remains unpredictable.”
