Two-year buy-to-let tracker rates have increased by an average of 0.20 per cent since the base rate rise on 2 November, Moneyfacts says.
The average rate for this product is now 2.43 per cent. This is the highest monthly rate increase ever seen by Moneyfacts.
Two-year buy-to-let fixed rates have risen 0.04 per cent in the time, to 2.93 per cent.
Moneyfacts finance expert Charlotte Nelson says: “Variable rates are designed to track base rate, so an increase to the two-year tracker rate is little surprise.
“However, not only has the average variable tracker rate increased, so too has the average two-year fixed rate, seeing rates bound upwards and nearing June 2017 levels with the highest monthly rise since April 2015.”
Nelson adds that criteria changes for portfolio landlords rising rates will start to eat into landlords’ returns and may cause some to leave the sector.
But she adds: “Given that savings rates remain low, property is still seen as a good option by many and the lure of a higher return will continue to see many potential landlords wanting to dip their toe into the buy-to-let waters.”