Research completed by popular website Moneyfacts has shown that the average rates for both variable and fixed buy-to-let (BTL) mortgages are at the lowest levels ever, as the Bank of England maintains its long-standing low of 0.5 per cent.

The buy-to-let sector has increased the total number of deals available across the board, from 757 to 811 in a one-month time span, with the average rate at the lowest point recorded at only 3.38 per cent.

An editor at Moneyfacts, Sylvia Waycot, commented:

“When you consider how dire savings rates are it is hardly surprising that BTL is proving popular with investors, and this is likely to increase once the rules relaxing the drawdown of pension pots in April come to fruition.”

As rates are currently looking at remaining fairly stable, the competition between lenders is fierce, as they battle to each maintain the biggest market share. February has already seen some amazing rates, with a large portion of them being the lowest recorded.

As a mortgage advisor, you will have already undertaken your CeMAP training and passed the end exam in order to be fully compliant with the requirements of the Financial Conduct Authority (FCA). The working practice of your employer will determine if, as part of your role, you will identify and action buy-to-let enquiries. Not all lenders have a buy-to-let range.

Under your roles and responsibilities, you will have a duty of care to your customers. Likewise, you will have an obligation to your employer’s procedures, to carry out a full affordability assessment prior to making your mortgage recommendation.

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