Landlords prioritise tax and regulatory expertise in broker choice

Landlords prioritise tax and regulatory expertise in broker choice

0:05 AM, 6th December 2024, About a month ago

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Buy to let landlords are increasingly seeking mortgage brokers with expertise in tax and regulatory matters, a survey reveals.

The findings from Butterfield Mortgages found that 38% of landlords did so – highlighting worries over the Labour Budget’s impact on the PRS.

Those wants are followed by access to a wide range of flexible financial solutions (36%) and access to exclusive products (34%).

The survey of 501 landlords in the UK also found that respondents wanted ‘experience with clients of similar demographics’ (29%).

For 28%, they had a need for ‘a broad range of lender partnerships’ and 26% wanted ‘expertise in the local property market’.

Ongoing uncertainty among landlords

The lender’s chief executive, Alpa Bhakta, said: “This research comes at a pivotal time, with Rachel Reeves’s Budget still fresh in people’s minds.

“Indeed, it is noteworthy that expertise in tax and regulation ranked higher than product range, highlighting the ongoing uncertainty among landlords about the potential impact of government policies on the BTL market.

“Evidently, brokers and lenders must focus on providing access to up-to-date, expert guidance to help landlords navigate these challenges effectively.”

The evolving BTL market

Ms Bhakta continued: “Our research also reveals that, despite recent rate cuts, borrowers still rely on brokers to offer a diverse range of financial options that enable them to adapt confidently to the evolving BTL market.

“What’s more, landlords expect brokers to deliver a personal, tailored service that caters to their specific needs.”

She added: “The survey underscores the value landlords place on quality, human-centred service.

Lenders must also consider these findings carefully – and they need to recognise their role in supporting both brokers and their clients as well.

“It’s crucial for the entire sector to collaborate, ensuring that BTL landlords can make better-informed, confident decisions that foster long-term success.”

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below:

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