Indeed, there are so many BTL mortgages available that they are now at rates lower than before the credit crisis struck.
The boom in mortgages is to meet demand from landlords buying buy-to-let properties as the number of people renting in the UK continues to rise - according to analysts at property group Knight Frank, the number of renters has doubled since 2000.
That means around a sixth of the UK's population is living in private rented accommodation.
Best BTL mortgage rate
Among the new BTL mortgages, the best two-year rate is 2.49%, which is two percentage points lower than was being charged in August 2007 before the financial crisis hit.
In addition, the battle for custom among mortgage providers is seeing one in 10 mortgages being available without any arrangement fees being paid.
That means that the mortgage lenders are not working to high margins and are keen to lend to landlords expanding their portfolio.
They should be busy because, according to buy to let mortgage specialist Mortgages for Business, 57% of private landlords are looking to buy more properties in 2014.
And those who do so are buying in conditions that haven't been so favourable for several years, says mortgage broker London & Country.
The firm's David Hollingworth said: “Mortgage rates for buy to let lending are the most competitive they've ever been and with the bank rate at a low of 0.5%, lenders are keen for new business which is seeing them push down their rates.”
He added that the market is now extremely competitive and that mortgage lenders are even willing to make loans to private landlords borrowing with less equity in their portfolio.
However, there is the prospect of a rise in interest rates this year which may dampen enthusiasm for buy to let mortgages.
This is a situation that any landlord looking to develop their portfolio should beware of and David Whitaker of Mortgages for Business says that lenders will move quickly when the base rate does eventually increase.
He explained: “We are advising clients to consider taking out five-year fixed-rate mortgages which will help delay the impact of interest rate rises.
“That's because once the bank rate move, it will move faster and higher than almost anyone will expect.”
The attractive buy to let mortgage repayment rate mentioned previously is being offered by the Mortgage Works and has an LTV of 60% with a deposit of 40%. It comes with a 2.5% fee.
To put that offer into perspective, the same firm was offering a two-year fixed deal in August 2007 for 5.29% for loans with 75% LTV.
