Mortgage product choice has climbed back above 7,000 and average two-year fixed rates have posted their biggest monthly fall in more than a year, according to new Moneyfacts figures. The shift gives landlords a broader refinancing market just as large numbers of borrowers head toward deal expiry.
The latest Treasury Report shows average two-year fixed mortgage rates fell 0.10 percentage points to 5.68 percent at the start of June, while five-year fixes edged down to 5.63 percent. Product availability also rose by almost 350 month on month, taking the total market to 7,132 deals.
For landlords, the news matters now because rate direction has been unstable since the spring repricing shock. More choice does not mean cheap debt has returned, but it does suggest lenders are competing harder again ahead of the second-half remortgage wave.
What the new figures show
Moneyfacts said this is the first time total mortgage availability has moved back above the 7,000 mark in three months. The report also showed average shelf-life holding at 15 days, a sign that the market is still moving quickly even as pricing conditions calm.
Two-year fixes remain slightly more expensive than five-year deals, which shows the market is still pricing in short-term uncertainty. That matters for landlords deciding whether to wait for further cuts or lock in while lenders are actively repricing.
Why landlords should not read this as a full reset
Most buy-to-let borrowers are still refinancing into rates well above the levels they were used to before the recent market turmoil. Even so, a wider product pool improves the odds of finding a cleaner fit on loan size, fee structure and term length rather than chasing one headline rate.
This follows Landlord Knowledge’s recent coverage of buy-to-let lenders cutting rates before the remortgage rush, which showed lenders were already edging prices lower in specialist ranges. The latest Moneyfacts numbers suggest that trend is spreading more widely across the market.
Landlords should also read the update alongside Landlord Knowledge’s report on rising mortgage approvals in April. More approvals, more product choice and lower average fixes point to a market that is reopening – but not one that has become easy again.
The underlying Moneyfacts mortgage data will be watched closely by landlords approaching refinance deadlines later this year. If competition keeps building, pricing could soften further, but anyone with a deal ending soon still faces a market where speed and structure matter as much as the cheapest advertised rate.
What this means for landlords
- If you’re remortgaging this summer: check the full market early, because choice is improving even if rates remain high.
- If you’re weighing two- or five-year fixes: price stability is still not back, so term choice matters as much as headline cost.
- Watch for: further lender repricing through June if swap-rate conditions stay calmer.
- Bottom line: competition is returning, but landlords still need to shop actively.
Editor’s view
More mortgage choice is useful, but landlords should resist reading one month’s data as a turning point. This looks more like the market regaining composure than returning to the cheap-money era.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 09 June 2026
Sources: Moneyfacts
Related reading: TMW cuts buy-to-let rates by up to 0.22 points before remortgage rush
