A new survey from Butterfield Mortgages Limited (BML) reveals that UK buy-to-let (BTL) landlords place the highest value on brokers’ expertise in tax and regulatory matters, emphasising the need for brokers to provide knowledgeable and informed guidance.
The London-based mortgage provider commissioned an independent survey of 501 UK landlords with BTL mortgages. Those who used a broker to source their latest BTL mortgage were asked to choose up to three qualities they value most in a broker.
The results showed that 38% of respondents chose tax and regulatory expertise’ as an important quality they look for in a mortgage broker, making it the most commonly selected choice. This was followed closely by 'access to a wide range of flexible, bespoke, or specialist financial solutions’ (36%) and ‘access to exclusive products not available directly to borrowers’ (34%).
Conversely, the likes of ‘experience with clients of similar demographics’ (29%), ‘a broad range of lender partnerships’ (28%), and ‘expertise in the local property market’ (26%) were the least commonly selected qualities.
Alpa Bhakta, CEO at Butterfield Mortgages Limited, said: “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.”