The consumer organisation Which? is warning that buy to let mortgages could become more expensive in the near future.

This is despite reduced rates on several buy to let mortgage products introduced in December. 

Which? says the likely near-term increase in costs is down to two major sources of funding for buy to let lending closing early in 2018.

The first is the Funding for Lending Scheme, launched in 2012 to encourage banks to lend: the closes this month, January. 

Meanwhile the Term Funding Scheme (which lends to banks at the base rate) closes next month, in February. 

Which? says the imminent closure of these schemes – coupled with a possible further base rate increase – could push up buy to let mortgage rates from long-term lows.