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BTL2021: Mini-boom and ‘really strong pipelines’ give BTL market positive edge – Rickards

  • 21/04/2021
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BTL2021: Mini-boom and ‘really strong pipelines’ give BTL market positive edge – Rickards
The buy-to-let market is witnessing a mini-boom and is in a good position to maintain and grow its business volumes, according to BM Solutions head Phil Rickards.


Speaking at the Buy to Let Online Forum, Rickards (pictured) emphasised that the market had proved remarkably resilient over the last year and was on course to remain so.

Rickards added that 2020 was BM Solutions’ biggest year for new business since 2007 and its largest ever year for product transfers.

He also praised chancellor Rishi Sunak for not targeting the sector for tax rises and for including landlords in the payment deferral scheme.

“Has there been a mini-boom? Yes, there has, aided somewhat by the stamp duty holiday,” he said.

“It’s great to see the chancellor, for one of the first times I can remember, giving buy-to-let a step up.”

He continued: “I’m sure we all would have signed-up for last year’s market of £37bn just down from £42bn the year before.

“Nobody really knows what’s coming, but my prediction would certainly be for a market in the high £30bns maybe even early £40bns as buy-to-let completions and pipelines still look really strong – a good start to 2021 already.”


‘Cautiously optimistic’

When asked about whether BM Solutions would be following-up the growing interest in environmentally friendly mortgage options, Rickards said: “The green agenda is high on everyone’s agenda so this is something that I wouldn’t rule out in the future.

“We are currently focussing on finalising the roll out of our new system with PTs next to market soon.”

Rickards concluded his session with a positive note on the market.

“There’s never been a better time to be a mortgage adviser, landlords need your voice more than ever,” he said.

“I’m cautiously optimistic about the future of the buy-to-let market. It’s been through lots of challenges and landlords themselves have shown how resilient they can be.”



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