The number of UK buy-to-let mortgages falling into arrears surged 18% in the final quarter of 2023 as high interest rates and stricter regulation weighed on landlords.

There were 13,570 such loans behind on payments at the end of December, according to data compiled by industry group UK Finance. That’s up from 11,540 at the end of September and is more than double the number recorded a year earlier.