Banks have pulled the plug on dozens of cheap buy-to-let mortgages after a flood of applications from landlords.

Banks have pulled the plug on dozens of cheap buy-to-let mortgages after a flood of applications from landlords.

More than 50 deals have disappeared recently at a time when investors are seeking to cash in on the strong demand for rented property. 

More than 2,600 mortgages were granted a week to landlords between April and June. There are now 1.3 million outstanding buy-to-let loans – a new high.

Rentals: But the buy-to-let boom is now set to end

But this week a number of big name mortgage lenders were forced to pull their best rates.

On Wednesday, The Post Office withdrew all its buy-to-let mortgages, and Skipton Building Society has stopped offering its ultra-cheap tracker deals