2nd
Feb 2015
Nearly 40% (36 per cent) of landlords choose to get their finance for their buy-to let properties solely from third parties.
A buy to let lender said that a majority of landlords used intermediaries, but 23% did claim to use both lenders and brokers, whereas the other 23% always went direct through lenders.
Out of those landlords with 5 plus properties, 40% get their finance from third parties whereas those with less than five properties, only 23%, use brokers or such like.
35% of landlords with less than 5 properties go direct to lenders and large scale landlords (5 plus properties) less than one in five source directly from lenders, (19%).
Managing director of the buy to let lender, John Heron, said: “Although the market has seen strong growth this year, many landlords remain cautious, particularly in view of interest rate expectations, the weaker conditions that we have seen in the housing market and the disruption we are likely to see around the general election in 2015.
He added: ‘Landlords, especially those newer to the market, recognise the benefits of using a trusted, experienced and knowledgeable broker to help source their finance.’
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