The total number of buy-to-let mortgage products has risen 35% over the last three months, with 403 BTL deals now on the market compared to 298 in April, specialist broker Mortgages for Business has reported.
It says there are now 22 active lenders in the sector, compared with 19 in April.
It also says that complex BTL deals continue to produce the best yields for professional investors, and that Houses in Multiple Occupation are now offering average yields of 10%.
It says lending conditions in this sub-sector have improved, with new entrants such as KRBS and Whiteaway Laidlaw Bank joining Paragon, TMW and Aldermore.
David Whittaker, managing director at Mortgages for Business, said: “Languishing property prices and rising rents have created a perfect storm for professional investors and landlords.
“The yields on offer on investment properties are incredibly lucrative, and with the owner-occupier market unlikely to change dramatically over the next 18 months, the returns for investors will be healthy for some time to come.”
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