With another significant change to the buy-to-let market now implemented, I wanted to share my thoughts on what the future holds for buy-to-let.
Capacity from the lender side will reduce - as many lenders have limited, or even withdrawn their appetite for portfolio buy-to-let lending. This reduction in capacity combined with the additional requirements from the new PRA changes are likely to put pressure on lender operations and a temporary drop in service across the industry is quite likely, that said, this should resolve itself as landlords, brokers and lenders get used to the new norm.
Buy-to-let is definitely becoming more complex both in terms of types of landlords and lender solutions. My view is that this represents a fantastic opportunity for brokers to add significant value to their landlord clients which will deepen and strengthen their relationships.
Put simply, I really do believe this is the age of the buy-to-let mortgage expert, and if you are an expert, or are willing to become one, the opportunities are significant.