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Record-low interest rates on buy-to-let mortgages have sent landlords rushing to lock in to new deals.

Record-low interest rates on buy-to-let mortgages have sent landlords rushing to lock in to new deals. Almost 14,000 buy-to-let remortgages were completed in August, 4.5% more than in the same month last year, according to the industry group UK Finance. That was despite concerns about the outlook for the property market because of Brexit. By contrast, there was a sharp fall in new buy-to-let mortgages: 6,000 were taken out in August, 13% lower than a year earlier. With demand from new landlords declining, lenders are trying to attract existing borrowers by offering rock-bottom deals. The Bank of England has raised its benchmark rate twice in the past year, yet the cost of buy-to-let loans has fallen. The average five-year fixed-rate deal is now 3.4% compared…

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