A mortgage firm claims some 22 per cent of existing lettings sector investors plan to buy at least another one lettings property this year.

The most popular region for the new purchase is the North West followed by the South East and Yorkshire & The Humber. 

More than two out of three of those who intend to buy plan to fund their purchase with a buy to let mortgage while 18 per cent will release equity from existing properties.

Alan Cleary, managing director of Precise Mortgages – which commissioned the study – says: “The increasing professionalisation of the buy to let market means landlords are becoming more focused and selective in where they buy properties and how they fund their purchases.

“Recent rate cuts across the buy to let market are highlighting the opportunities to increase portfolios and profitability as well as underlining the need for expert advice from brokers particularly among landlords with bigger portfolios.”