The chosen average fixed rate for mortgages has fallen below the average chosen rate for variable mortgages according to online buy-to-let mortgage specialist, the Landlord Centre.

Average fixed rates in Q1 2013 are 4.48% compared to 4.67% in Q4 2012 whilst average variable rates were 4.68%, up from 4.42%. The average loan to value (LTV) marginally increased from 73.11% to 74.84% over the same period.

Andy Young, chief executive of Landlord Centre, said: “The buy-to-let mortgage market has got off to a good start in 2013 with a wide range of products available to meet the diverse needs of the UK’s landlords. Factors such as high tenant demand and flat house prices are providing an ideal environment for residential property investors looking to expand their portfolios.

“Although there is still scope for further improvement in the availability of finance, lenders are showing a keener appetite to lend and some very competitively priced products are currently on offer.”