Moneyfacts data revealed that the average buy-to-let fixed mortgage rate is now 4.69% compared with 5.04% in 2012 and 5.77% in 2010.
Henry Knight, managing director of Springtide Capital, said: “Back when rates were considerably higher for buy-to-let landlords 2 to 3 years ago there was not enough competition in the market so it was an expensive business for investors.
“The good news for the consumer is that now there are more lenders operating in the buy-to-let market which is encouraging competition and therefore driving down costs.
“There has never been a better time for landlords to consider remortgaging with all the great rates that are now on the market.”
