landlords have not escaped credit crunchDespite the difficulties that first-time buyers are having getting on to the property ladder, those purchasing buy-to-let mortgages have not escaped unscathed.

Research by Moneyfacts has revealed that the residential market minimum loan to value (LTV) limits have decreased in the second half of last year.

Commenting on the findings, Alan Harper, senior analyst at Moneyfacts, said: "Despite the recent tail off in house prices, the average new buy-to-let landlord needs to find around £5,500 more now than a year ago to buy their first rented property"

He added that this translates into a landlord having to make £12,500 more in contributions than five years ago based on an average LTV.

Some 13 buy-to-let lenders were prepared to offer 90 per cent LTV in May 2007, but the number has now dropped to just five, says the group.

Moneyfacts is an independent provider of personal finance information.

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