The Telegraph reports that figures from Mortgage for Business, the specialist broker, show average fixed-rate deals reversed the rate cuts made in March.
The average two-year fixed term loan was 2.9pc in April, up
from 2.86pc in March. Three-year deals rose from 3.53pc to 3.56pc, while
the average five-year buy-to-let mortgage went from 3.74pc to 3.76pc.
It is the first time buy-to-let rates have increased this
year, and the first time three-year fixed mortgages have risen since
However, the average tracker mortgage fell, from 4.85pc to 4.74pc in April.
It would appear that mortgage providers are using the increases in buy-to-let rates to offset reductions in rates offered to residential customers.