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THE COMPLEX BUY-TO-LET 'STATE OF THE NATION'

Detailed knowledge of lender criteria is more important than ever in buy-to-let and we have been knocking down doors to secure mortgages for clients where others have failed. Take a look…

“This is a difficult scenario” is a common introduction to conversations we are having with brokers about buy-to-let at the moment.

 

Brokers are finding it hard to find the right product on sourcing systems or through direct conversations with lenders as client requirements and lender criteria have become more complex.

 

There are a number of factors that could prevent a broker from finding the right mortgage, including property type, borrower type or something as simple as rental stress tests used by lenders to calculate maximum borrowing.

 

More often than not, a quick conversation with one of the consultants on the Buy-to-Let Team can help to build a clearer picture of the client’s circumstances, find a solution to a complex scenario and ultimately source a lender and product that will help the client reach their goal.

 

 

Since the PRA changes were introduced over a year ago we have continually monitored our lender panel and worked closely with our lender partners to ensure we have a route to market for the majority of lending scenarios.

 

Within the last month we have introduced Fleet Mortgages, The Mortgage Lender and Amicus to our lender panel to cover criteria areas that may have previously been lacking.

 

Moving forward, further partners will be coming to market and we will most definitely be working with these lenders to further improve our proposition and ability to service the Landlord community.

 

Competition from lenders for buy-to-let business seems to be strong and this can only be a good thing for the market.

 

If you want to place more buy-to-let case or other specialist enquiries, in June, Brightstar will be running specialist lending workshops that have been designed to help brokers engage with the market in a way that best suits their business.

 

On Thursday 7th June, we are inviting brokers already involved with specialist lending to discuss their cases directly with experts at the Brightstar clinic, meet some of the biggest specialist lenders in the UK market and learn new ways to upskill and diversify into additional lending areas.

 

Then, on Thursday 21st June, we are running a workshop for brokers who don’t currently have the time or knowledge to offer specialist solutions to their clients, with information on how they can increase their income potential by referring enquiries to an expert.

 

The workshops are taking place in partnership with Magellan Homeloans, InterBay Commercial, United Trust Bank, Pepper Money, Kensington and TML and will be held at our headquarters in Billericay, Essex, at 10.30am.

 

Both workshops will cover specialist residential lending, complex buy-to-let, second charge mortgages, short term lending, commercial finance and unsecured loans.  If you would like to learn more or secure your place on one of these workshops, click here.

 

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