The number of buy-to-let (BTL) mortgages has increased by 52% to 237 products in the past 12 months according to Moneyfacts. The number of products available to first time landlords has also increased in the sector by 33%, up to 147.

Sylvia Waycot, Editor at Moneyfacts.co.uk, said: “The number of products on offer at 80% LTV has increased by 43% in just one year.                                       

“The list of lenders offering BTL at 80% is empty of the big high street names, leaving the way open for specialist lenders to take control of this market, but also to take all of the risk. 

“Because first time landlords do not have a proven track record for running a BTL business, they do pose a greater risk to the lender. Appetite for this risk is still lacking, which is borne out by the rise in the numbers of what would be attractive LTVs available to first-time landlords being restricted to borrowers with a previous BTL history.    

“While the big high street lenders have turned their backs on BTL 80% LTVs, they have a large presence in the less risky 60% LTVs, making it harder for other lenders to operate in this arena with competitive terms, which is why only the Mortgage Works offers both 80% and 60% BTL LTVs.            

“History seems to be repeating itself, only this time rather than ignoring the residential FTB market, it is the first-time landlord market that is being given the cold shoulder.”