Landlords can make savings by switching their buy-to-let (BTL) mortgages as average costs have started to fall.
The latest analysis from Mortgage Brain shows that the cost of a 60% Loan-to-Value (LTV) BTL mortgage is now 3% lower than it was three months ago.
Meanwhile, the same product with an LTV of 70% now costs 2% less than it did in March, with cost for an 80% LTV falling by 0.5% during the same period.
The cost reductions offer investors potential annual savings of £234, 144 and £36 respectively on a typical £150,000 mortgage.
Mortgage Brain has also recorded 2% reductions in the cost of 60% and 80% LTV five-year fixed BTL mortgages over the last three months.
The cost of a 60% and 70% LTV three-year fixed BTL mortgage has also dropped by 1%.
The analysis also shows that the cost of the 80% LTV five-year fixed product is 19% higher than the same product type for a mainstream residential mortgage.
By comparison, a 60% LTV two-year tracker BTL product costs 8% more than its residential equivalent, while a 60% LTV three-year fixed product costs 6% more.
"With new regulations, tax changes, and the potential for base rate rises coming into play, the buy-to-let landscape remains as complex as ever," says Mark Lofthouse, Mortgage Brain chief executive.
"While the mortgage cost movement over the past three months has been minimal, however, the majority of the movement has been favourable and with specialist advice and support from brokers, buy-to-let investors and potential landlords can continue to make the most of the low rates and costs in the buy-to-let market."
Earlier this week, Moneyfacts reported that the choice of buy-to-let mortgages for first-time landlords has reached a record high.