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‘The importance of intermediaries to landlords cannot be overstated’ – Family BS video
In the second part of the Family Building Society-supported debate on the buy-to-let market, a video panel of industry insiders focused on innovation in the market and what the future may hold for landlords, lenders and intermediaries.
The first part of the discussion, which focused on opportunities, challenges and media speculation in the buy-to-let sector can be watched here.
In this, the second part of the video panel debate on the buy-to-let sector, our experts highlighted the innovative products in the market with particular reference to offset mortgages, which one panellist said ‘every portfolio landlord should have in their arsenal’ and gave their opinions on what the future holds for buy-to-let, with all three praising the levels of resilience and sophistication in the market.
Greg Cunnington, chief operating officer of LDN Finance, felt that portfolio landlords would ‘begin to tighten their grip on the market as accidental landlords begin to leave’. He also noted that there would be a bigger move to limited company status.
Fellow panellist Richard Merrett, director strategic relationships at SimplyBiz Mortgages, agreed, highlighting the growing sophistication in the market.
He said: “The market has become increasing more specialist. There is a need for a more sophisticated level of advice, which addresses the true complexity in the market. And given that complexity, the importance of intermediaries to landlord clients cannot be overstated.”
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Darren Deacon, head of intermediary sales at Family Building Society, rounded out the debate by acknowledging that the market was definitely moving forward, despite headlines in the mainstream press.
He said: “The sector will evolve. People will adapt. While accidental landlords may fall, specialists will be there for the long haul. And lenders will need to be innovative. And that evolution will bring opportunity.”