Buy-to-let brokers wary of FCA governance
Brokers are apprehensive about increased Financial Conduct Authority governance and further lending restrictions in the market ahead of the Mortgage Credit Directive implementation.
Research from Shawbrook also claimed that brokers are viewing the new stamp duty levy with apprehension with 80% expecting the changes to have a negative impact on the housing market and the lending environment generally.
Despite these challenges the mood amongst brokers remains positive with 85% stating they are confident about business growth in the new year.
Karen Bennett, sales and marketing director commercial mortgages at Shawbrook, said: “While it is obvious that 2016 will see some big changes in the buy-to-let market, it appears that brokers are not buying in to the commentary that the market will suffer.
“The majority of our broker partners are confident that the market is one in which their business can grow and buy-to-let presents many opportunities to investors.
“Lenders, brokers and customers will have new factors to consider but the outlook for 2016 remains positive.”