It found that on 17th August, a total of 1,660 buy-to-let products were available. This is down from 1,738 in July, and markedly down from the 2,897 landlord mortgage deals available back in March.

The number of two-year fixed rate buy-to-let products dropped from 625 in July to 596 in mid-August, while on five-year fixed rates the numbers have fallen from 644 to 612 over the same time period.

As product numbers have fallen, interest rates have started to creep up according to Moneyfacts. The average rate charged on a two-year fixed rate buy-to-let mortgage has risen from 2.61% in July to 2.72% in mid-August, while on five-year products it has jumped from 2.97% to 3.11%.

Eleanor Williams, finance expert at Moneyfacts, noted that over the last six months the buy-to-let sector has been “a little more resilient” than the residential market when it comes to product choice, and pointed out that while rates have crept up since July, they remain lower than what was being charged back in March before the pandemic struck.

She continued: “Landlords looking to invest in the buy-to-let sector could see this as an opportune time to explore their options, especially if they think that average rates may continue the upward trajectory we have witnessed over the last two months.

“However, economically, we remain in unchartered waters, with many providers exercising caution in their underwriting, so landlords or potential investors should ensure they thoroughly research and plan ahead in order to protect their investments.”