The costs of lender arrangement fees, valuation fees and legal costs attached to new buy to let mortgages are falling as institutions heighten their competition for a share of the market.
On average these additional fees now add an additional 0.48 per cent to the headline rate of interest paid by a borrower, down from 0.52 per cent three months ago.
The survey, by Mortgages for Business, suggests that this downward trend can now be seen even in high loan to value products which had previously seen rises up to 0.90 per cent of the headline rate.
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