Research from Moneyfacts has revealed that the proportion of mortgage deals for new landlords has shrunk to a record low.

Year-on-year, the number of BTL mortgages has increased, so it would be fair to assume that the availability of deals for first-time landlords has also expanded - however, the research shows this is not the case. Five years ago the percentage of the BTL market that was available to first-time landlords was 82% - but today, that number stands at 75%.

Charlotte Nelson at Moneyfacts.co.uk, said: “Despite all the changes to regulation in the BTL market, the number of BTL mortgages has increased; however, first-time landlords have been missing out on this boost in product numbers. Indeed, the percentage of the market that is available to new landlords has now dropped to just 75%, down by around 10% in two years.

“As first-time landlords don’t have a proven track record in managing rental properties, offering them a BTL mortgage poses a greater risk to the lender, and it’s this risk that is making the number of first-time landlord deals remain relatively static.”