The average loan size for offers received by buy-to-let and commercial mortgage specialist TBMC was £136,359 up from £130,145 in the previous quarter – an increase of almost 5%.

Average loan-to-values (LTVs) also continued to rise during the period, with 49% of mortgage offers made with LTVs of over 70% and the overall average LTV at 66%. This reflects the increase in lenders offering more 75%, 80% and even 85% LTV buy-to-let mortgages, TBMC said.

Andy Young, chief executive at TBMC, said: “The buy-to-let mortgage market is continuing to show signs of growth and development as more lenders enter the marketplace