Despite there being a record number of buy to let financial products currently on the market and with more being added daily, the news will surprise many landlords.
According to the NLA, around 30% of landlords are looking to remortgage or find additional buy to let loans in the next three months.
Landlords struggle for buy to let finance
However, one in five of landlords in the UK, that’s around 300,000 people, has been unable to expand because they've had problems in obtaining buy to let finance in the past three months.
Carolyn Uphill, the NLA's chairman, said: “Landlords are being frustrated because lending criteria is too prescriptive as there is no one size fits all mortgage.”
The NLA's report says that 67% of landlords are looking to boost their portfolio with a buy to let mortgage.
However once they apply for a buy to let product with a lender, 59% of landlords say that the lender then failed to consider their individual circumstances.
Buy to let lenders do not consider personal circumstances
The report also reveals that 56% of landlords believe that the criteria on buy to let lending is 'too conservative'.
The NLA says landlords should choose the best of the two routes for buy to let borrowing that suit their purposes. The options are either to use a buy to let broker or apply director to a lender.
The report quotes several landlords on their views on the buy to let situation with several saying that lenders should not have a blanket ban for granting loans to those earning less than £25,000.
Several landlords said that lenders should consider the borrower on their own merits and that many mortgage lenders are now becoming increasingly difficult to work with.
Landlords complain of delays in the application process because they have been required to supply extra information, particularly details about their income.
Landlords will own more than £1 trillion of property in 2015
Meanwhile, landlords in the UK will own property worth more than £1 trillion next year, according to research.
Finance firm Kent Reliance says the buy to let property sector is currently worth £930.7 billion. That's an increase of £109.5 billion over the past year, or 13%.
With property prices increasing, the value of the private rental sector and increasing demand means the future is looking good for landlords.
The analysts at Kent Reliance show that the £1 trillion barrier will be reached by next summer.
