The vast majority of these (between 70% and 90%) arrange their buy-to-let (BTL) loans through an intermediary specialising in such products and are able to give advice on complex lending criteria.

The reasons for seeking guidance and where to go for this varies significantly by landlord experience and portfolio size. Smaller landlords (those with 1-4 properties) are more focused on the advice brokers give and the ‘price’ of the BTL product in rate and fee terms.

Larger landlords (20+ properties) are much more focused on lending criteria and previous experience of using a lender.

In our recent Q1 survey we asked more than 1,000 landlords what other sources of information they turn to when considering a BTL lender or loan.

We discovered that while smaller landlords (1-4 properties) are much more likely to use comparison websites and advice from a friend or relative, mid-to-large sized landlords (5-19 and 20+ properties) will turn to lenders with whom they have worked before, financial press coverage, trade press and trade body coverage, and, frankly, the limited number of lenders they can in fact borrow from.

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Overall use of info sources:
Previous experience of lender 43%
Comparison website 28%
Advice from broker/IFA 22%
Financial press 17%
Landlord magazine 16%
Trade body info 10%
Word of mouth from other landlords 10%
Advice from friend/relative 10%
Only lender I can borrow from 7%
Marketing info from lenders 5%
Landlord trade show/event 3%
Source: BDRC Continental Landlords Panel Survey, Q1 2014

Mark Long is director of BDRC Continental