We sat down with Jason Berry (pictured), group sales director at Crystal Specialist Finance, to talk about buy-to-let packaging, increased diversification, complex cases and broker relationships.
The Buy To Let Market Forum kicks off on 19 April in Bolton with events also taking place in Worcester, Cardiff and West Sussex.
To register for the event and find out more follow this link.
Q: The past few months have been quite turbulent for buy-to-let sector. How has that fed through on the packaging side of things?
A: There is no doubt that many landlords and investors have been sat waiting for better value. Traditional buy-to-let (BTL) transactions are therefore lower than the same period in 2022 as there is just not the value from residential security types, landlords and investors are still acquisitive but are diversifying their portfolios with new security types purchased.
Q: Are you seeing increases in certain kinds of business/do you expect any sectors to grow in the coming months?
A: Yes, as investors diversify we are seeing a big increase in commercial, semi-commercial and bridging transactions.
Q: Do you think packagers will grow in popularity as buy-to-let becomes more complex?
A: Yes, this is inevitable. A positive customer outcome is paramount for every case and a packagers panel of specialist BTL lenders is well equipped to deliver outstanding results.
The more complex a case, the longer research, placement and administration can take a broker but a good packager will deliver speed and peace of mind.
Q: Why should a broker use a packager and what should they keep in mind if they do?
A: Broker reward should be commensurate with the effort applied, so a packager must provide a seamless extension of the service the broker offers clients. Most packagers will have experts within their business who can deliver certainty of decision during initial placement and also admin/underwriting staff who specialise on certain lender relationships.
A broker should definitely be on first name terms with a packagers team so good communication and efficiencies are guaranteed.
