According to Mortgages for Business, landlords who have deposits of 25-35% can still get a choice of buy-to-let mortgage products however those with deposits of 15% are facing higher rates and much stricter lending criteria and little product choice.

Despite headlines sensationalising the withdrawal of buy-to-let mortgage products, Mortgages for Business still has around 130 buy-to-let mortgage products available and it believes this is likely to increase by the end of this week.

As financial market volatility continues with the US congress finally agreeing the $700bn bail out, and governments all over the world stepping in to shore-up financial institutions and guarantee customer deposits, there are signs that lenders continue to have an appetite to lend in the buy-to-let market.

David Whittaker, managing director of Mortgages for Business, said: “Landlords should realise that the majority of lenders for the foreseeable future will limit borrowing to around 75% of the property value. Options for funding above 75% will be limited with higher rates and stricter criteria at 85%. If you are in the fortunate position to only require funding up to say 65% of the property value then better products are available. The good news is that there are products available.”