Lloyds makes private rental debut with new venture

He continued: “We’ll soon forget how the buy-to-let market was dominated by amateurs discussing over dinner how easy it was to make their money.

“We are heading toward a more corporate dominated sector where the landlords will be more visible and accountable.

“The pandemic may well have expedited this change. This doesn’t mean the end of buy-to-let for the individual but, coupled with the move by John Lewis this week, it could mean that everyone will need to work a little harder in order to be competitive.”

For Carl Shave, director of Just Mortgages, the fact Lloyds’ brand Halifax is the UK’s biggest mortgage lender “is likely one reason why the name has been brought to the fore”.

Shave said Lloyds’ entry “perhaps flies in the face of the government’s focus on helping first time buyers”.

He added: “How ironic it will feel to those tenants that find out that their landlord is the bank who turned them down for a mortgage”.