Mortgage News
Duncombe – We’ll see a spike in BTL before PRA deadline
The head of the Legal and General Mortgage Club believes the buy-to-let (BTL) market will see another spike in activity before the next set of regulatory changes are introduced at the end of September.
L&G Mortgage Club director Jeremy Duncombe also expects most of the large lenders to remain in the portfolio buy-to-let market.
Speaking to Mortgage Solutions for the Mortgage Club award winners’ supplement, Duncombe was upbeat about the sector following the changes.
“I think the majority of large lenders will remain in, but brokers need to be aware of that sector and do their homework,” Duncombe said.
“Also, I think we will see another spike of activity before that September deadline, so there is another opportunity for brokers at that point.”
Yesterday the Council of Mortgage Lenders echoed Duncombe’s expectation that the market will slip to around £35bn this year.
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However, with approximately 90% of all buy-to-let business done through intermediaries, Duncombe adds it is vital for brokers to understand its changing shape and complexity.
You can download the Awards Supplement here.