Private landlords have been warned about the current state of the mortgage market in the UK.

According to price comparison website moneysupermarket.com, there are fewer buy-to-let deals available than there were in recent years.

Over the last two years, the number of buy-to-let mortgages on offer has apparently dropped from 4,384 to 213 - a reduction of 95 per cent.

Louise Cuming, head of mortgages at moneysupermarket.com, said: "The credit crunch has killed off the majority of buy-to-let deals.

"Because banks view buy to let borrowers as riskier than normal customers, the deals that are still available require an extra large deposit."

Private landlords should take care, even if they have found the deposit money and a suitable loan, as fees levied on arranging the deal "can be extortionate", she added.

Despite a reduction in mortgages options, finance website MoneyNet said this week that buy-to-let remains a potentially lucrative market for investors.

Written by John WeeksADNFCR-2002-ID-19155638-ADNFCR

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