Buy-to-let landlords are calling the shots when it comes to what they want from mortgage brokers – and it’s all about brains over brawn.
According to a fresh survey from Butterfield Mortgages Limited (BML), landlords are putting tax and regulatory expertise at the top of their wish lists.
The London-based mortgage provider quizzed 501 UK landlords with buy-to-let mortgages, asking them to spill the beans on what they value most in a broker.
A whopping 38% said they prioritise brokers who know their way around tax and regulation. That puts red tape know-how ahead of perks like access to bespoke financial solutions (36%) and exclusive mortgage deals (34%).
UNDERSTANDING CLIENTS
At the other end of the scale, qualities like understanding clients of similar demographics (29%), having a broad range of lender partners (28%), and local property market expertise (26%) didn’t set landlords’ hearts racing.
Alpa Bhakta, Chief Executive of Butterfield Mortgages, reckons the findings show just how much uncertainty landlords are facing thanks to shifting government policies. With Labour’s Rachel Reeves recently unveiling her Budget, it’s clear landlords are bracing themselves for potential changes.
Bhakta says: “It’s fascinating that expertise in tax and regulation came out on top.
“It shows landlords are more concerned about staying on the right side of the rules than chasing flashy deals.”
TAILOR-MADE SOLUTIONS
But it’s not just about playing it safe. Brokers are also expected to deliver tailor-made solutions and keep landlords up to speed in a fast-moving market. Despite recent rate cuts, landlords are still relying on brokers to provide flexible financial options to suit their needs.
Bhakta is urging the entire sector – brokers, agents, lenders and landlords alike – to come together to make smarter decisions.
She says: “Collaboration is key to ensuring landlords can navigate these challenges confidently and achieve long-term success.”
