Choice of buy-to-let mortgage deals 'is at widest level in at least six years'

The number of buy-to-let mortgages on the market has topped 2,000 for the first time on a website's records.

There are now 2,022 deals to select from, compared with 1,820 six months ago and 1,558 a year ago, according to Moneyfacts.

It is the highest figure on the site's records going back to November 2011.

Previous figures from banks and building societies have shown a dip in lending to landlords following a stamp duty hike for people buying second homes, including buy-to-let investors.

Charlotte Nelson, a finance expert at Moneyfacts.co.uk, said: "The buy-to-let market has seen quite a rollercoaster ride over the past year, including multiple changes that have required both landlords and providers to rethink their options.

"However, this hasn't appeared to deter providers, marking an increase of 464 deals in just one year, which has seen the buy-to-let market break yet another record and rise past the 2,000 mark for the first time on Moneyfacts.co.uk's records."

She continued: "Amid this upheaval, the market has seen many landlords and aspiring landlords take a step back to assess their options and figure out whether they are making the right choice.

"As a result, buy-to-let providers are now competing for a smaller pool of customers.

"Offering variety in their range is one way in which they can compete."

Lettings network Countrywide recently estimated that in the last 12 months 9,523 landlords across Britain who re-mortgaged their buy-to-let property withdrew money for home improvements. This was the highest number on Countrywide's records going back to 2006.

Countrywide previously said the recent stamp duty and other tax changes mean more landlords are choosing to invest in their properties, refurbishing and improving them and holding on to them for longer to maximise gains.

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