Today the Buy-To-Let market has received a real “helping hand” as Precise Mortgage entered the market.

According to the Financial Times, “Precise Mortgages will initially distribute through a controlled panel of intermediaries made up of L&G Mortgage Club, Mortgage Intelligence and Mortgage Next.” Indeed the group is starting with three different mortgage deals, and rates start at 5.79% for a two-year tracker loan of Libor plus 5.15%, which comes with a 2.5% arrangement fee according to the Mortgage strategy.

Previously this month The Mortgage Works launched seven mortgages for landlords borrowing up to 80% of a property’s value. Now the total number of buy-to-let products available has risen from 215 at the beginning of the year to 301 now, according to the Press Association.

Ian Lonergan, chief executive of the group, said: “Over the last two years a fundamental mortgage shortfall has developed as lenders have exited the market, rebuilt their balance sheets, restricted their lending volume and focused on very low credit risks.

The Buy-to-let market may not fully recover but new entrants such as Precise Mortgages will in some way help the market to “heal”.

For a cheap landlord insurance quote visit Discount Landlord Insurance.