With the credit crunch in full swing the number of BTL mortgage products available has plummeted from 4,300 to just over 300 in the past year.
And those remaining products come with tighter lending criteria of higher interest rates and higher existing equity in the property.
The increases in interest rates means that a £100,000 interest only mortgage now needs rent of £622 to cover the payments up from £569 last year.
Not only are new investors put off but existing investors will soon be hit with higher costs as their cheaper deals, of the past couple of years, come to the end of their fixed rate period.
It could lead to an increase of landlords with no alternative but to sell their investments at a loss with the way the current housing market is falling.
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