"It's predictability over flexibility" despite recent Bank of England rate cuts
The majority of buy-to-let mortgage brokers in the UK continue to favour fixed rate products, according to new data from lender Landbay.
The survey found that 83% of brokers are currently advising landlords to opt for fixed rate deals, with five-year fixes emerging as the most popular option.
Landbay’s research, which polled 60 buy-to-let mortgage brokers, highlighted that 42% recommended five-year fixed rate mortgages, while 38% suggested two-year fixes. Only a small minority (3%) advocated for 10-year fixed terms. Tracker mortgages, which follow the Bank of England base rate, accounted for just 17% of broker recommendations.
“Brokers’ preference for five-year fixed mortgages reflects their focus on providing landlords with stability in a volatile market,” said Rob Stanton (pictured), sales and distribution director at Landbay. “It’s predictability over flexibility.”
The findings come as the Bank of England made its fourth interest rate cut since August 2024, with market expectations pointing to further reductions before the end of the year. Despite this, most brokers still appear cautious about steering clients towards tracker products, even though falling rates may enhance their appeal.
Landbay, however, noted that the share of brokers recommending shorter-term and tracker mortgages has increased compared to previous years. In 2022, just 17% were recommending such products. As of May 2025, that figure has climbed to 55%, reflecting a shift in strategy as landlords adapt to changing market conditions.
The evolution in broker advice signals a broader trend in the BTL sector, where the balance between certainty and cost-efficiency is being recalibrated. With further rate cuts anticipated — potentially bringing interest rates down to 3.5% by year-end — brokers appear to be weighing affordability more heavily in their recommendations.
Landbay’s data also sheds light on the broader mortgage landscape, where fixed rate deals dominate. Currently, more than seven million UK households are on fixed rate mortgages, compared to fewer than 600,000 on tracker products.
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