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At that time, landlords raced to buy in a bid to avoid the 3 per cent surcharge being introduced on all new buy-to-let and second home purchases from April that year. If you borrowed close to the maximum loan-to-value two years ago, then you are going to face much stricter lending criteria, which includes greater affordability tests. He suggested that many of the landlords who bought new properties in March 2016 and rushed to beat the deadline will have taken out popular two-year fixed rate deals. And in the same year, the Bank of England introduced new rules meaning landlords need more rental income to cover their mortgage costs. It equates to almost 80,000 properties being bought in that month, with Mr Boulger suggesting that around 70,000 would have been bought as buy-to-let properties due to the approaching stamp duty changes deadline. He explained that a significant of buy-to-let properties were bought with cash two years ago to meet the stamp duty deadline. Why landlords raced to beat the stamp duty deadline Landlords took such extreme measures as it meant they could save significant amounts of money. He said: 'Although some of the increase in the number of properties purchased was due to cash buyers, the huge increase in mortgage completions was mainly due to buy-to-let and a good proportion - more than 50 per cent - of these purchases were on two year fixed rates.' Many landlords will have no other option than to stick with their existing lender as they fail to meet the stricter lending criteria imposed on potentially better deals elsewhere. Mr Boulger said: 'Many landlords who had a loan-to-value in excess of 60 per cent will struggle to remortgage but they will be able to get another deal with their existing lender.'