New survey reveals sought after qualities
Buy-to-let landlords in the UK consider tax and regulatory expertise to be the most important quality in a mortgage broker, according to a new survey from prime mortgage lender Butterfield Mortgages.
The London-based lender commissioned an independent survey of over 500 landlords with BTL mortgages. Respondents who used brokers for their most recent BTL mortgage were asked to identify the top three qualities they value in brokers.
The findings revealed that 38% of landlords prioritised brokers’ knowledge of tax and regulatory matters, making it the most selected quality. This was followed by access to flexible, bespoke, or specialist financial solutions (36%) and access to exclusive products not directly available to borrowers (34%).
Meanwhile, qualities such as experience with clients of similar demographics (29%), a broad range of lender partnerships (28%), and local property market expertise (26%) were less frequently cited as priorities.
“This research comes at a pivotal time, with Rachel Reeves’s Budget still fresh in people’s minds,” commented Alpa Bhakta (pictured), chief executive of Butterfield Mortgages. “It is noteworthy that expertise in tax and regulation ranked higher than product range, highlighting ongoing uncertainty among landlords about government policies’ potential impact on the BTL market.”
Bhakta also pointed to the need for brokers and lenders to provide up-to-date guidance to help landlords navigate the shifting regulatory landscape.
“Despite recent rate cuts, borrowers continue to rely on brokers for a diverse range of financial options that allow them to adapt confidently to the evolving BTL market. Landlords clearly expect brokers to deliver tailored, human-centred service,” she added.
The survey results, Bhakta said, suggest opportunities for lenders to work more closely with brokers in supporting landlord clients. She urged the industry to collaborate further, saying that it’s crucial for the entire sector to ensure landlords can make well-informed decisions that drive long-term success.
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