The Mortgage Lender has topped £1bn in buy-to-let applications in the four years since it launched following a record £100m in applications during June.

Its performance comes on the back of multiple enhancements to its range and its Lumi product which has no application, valuation or telegraphic transfer fees.

Peter Beaumont, The Mortgage Lender chief executive, said: “Despite the challenges the pandemic has presented we recorded our best ever month for buy to let applications in June and July has also started strongly.

Four out of 10 advisers forecast buy-to-let business growth

“This is due in large part to our ability to tweak areas of our product portfolio throughout the crisis because we have the backing of a strong funder in Shawbrook Bank.

“We’re delighted our broker partners feel these changes add value for landlords and provide what they are looking for in a lender right now, which has enabled them to support us in record numbers throughout the pandemic.”

Dynamo founder and chief executive Ying Tan added: “Now more than ever it’s important that specialist lenders find their niche in the market.

“Through its core range and product enhancements during COVID-19 The Mortgage Lender has done just that, increasing choice in the market and competition, while also making it easier for brokers and their clients to access the funding they need to underpin their investments.”