BTL landlords rely on broker expertise
According to research conducted on behalf of SLB, 83 per cent of landlords believed IFAs and mortgage brokers provide a complete service package and give reliable advice relating to their investment. In addition, of the 500 landlords questioned, more than a third (34 per cent) believed using the expertise of an IFA or mortgage broker results in them getting better buy-to-let (BTL) mortgage deals.
Will Fraser, national sales manager at SLB, said: “Our research findings reflect the rising popularity of property among new investors looking to boost their income, invest for the future and fund more flexible lifestyles.”
“Today’s would-be landlords would rather pay for professional advice in order to secure the best buy-to-let mortgage deal than shop around in their own time, with 60 per cent of landlords who use an IFA or mortgage broker saying they do so because they’re too busy to take on the research themselves. For today’s busy buy-to-let investors, sound, impartial advice from someone with an understanding of the entire marketplace is invaluable,” he added.
Stephen Knight, executive chairman of GMAC-RFC, said: “Buy-to-let has grown to around 6 per cent of total lending. SIPPs were never going to have the massive impact that was anticipated in some realms and buy-to-let will continue to play a very important role in the market and the social infrastructure of the UK.”