A 25 per cent deposit yields best BT mortgage choice

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Landlords able to put down a quarter of the cost of new property investments  currently have ‘vast’ choice when it comes to selecting the right buy-to-let mortgage deal.

This is the view of financial information company Moneyfacts, which said it has logged 885 such deals, compared 126 at 80 per cent LTV and only 12 at 85 per cent LTV.

It doesn’t help to have a larger deposit either. Moneyfacts found only 242 deals on offer at 70 per cent LTV and 346 at 65 per cent.

‘While more choice can help landlords select the right deal for their needs, they should keep in mind that lower average rates are available on lower LTVs’, it said.

The average rate available at 50 per cent LTV currently stands at 1.99 per cent on two year fixed deals and 2.38 per cent on five year fixed deals.

This compares with an average rate of 3.3 per cent for a 75 per cent LTV two year fixed deal, and 3.42 per cent for five year fixed.