A recent survey by Butterfield Mortgages Limited (BML) highlights that UK buy-to-let (BTL) landlords prioritize brokers’ expertise in tax and regulatory matters, underscoring the importance of informed and knowledgeable guidance in the mortgage process.
The London-based mortgage provider conducted an independent survey of 501 UK landlords with BTL mortgages. Respondents who had used a broker for their latest BTL mortgage were asked to identify up to three qualities they value most in a broker.
The findings revealed that 38% of landlords consider tax and regulatory expertise the most important broker quality. This was followed by access to a broad range of flexible, bespoke, or specialist financial solutions (36%) and access to exclusive products unavailable directly to borrowers (34%).
Conversely, the likes of ‘experience with clients of similar demographics’ (29%), ‘a broad range of lender partnerships’ (28%), and ‘expertise in the local property market’ (26%) were the least commonly selected qualities
Alpa Bhakta, CEO of Butterfield Mortgages Limited, said: “This research comes at a pivotal time, with Rachel Reeves’s Budget still fresh in people’s minds. Indeed, it is noteworthy that expertise in tax and regulation ranked higher than product range, highlighting the ongoing uncertainty among landlords about the potential impact of government policies on the BTL market. Evidently, brokers and lenders must focus on providing access to up-to-date, expert guidance to help landlords navigate these challenges effectively.
“Our research also reveals that, despite recent rate cuts, borrowers still rely on brokers to offer a diverse range of financial options that enable them to adapt confidently to the evolving BTL market. What’s more, landlords expect brokers to deliver a personal, tailored service that caters to their specific needs. The survey underscores the value landlords place on quality, human-centred service.
“Lenders must also consider these findings carefully – and they need to recognise their role in supporting both brokers and their clients as well. It’s crucial for the entire sector to collaborate, ensuring that BTL landlords can make better-informed, confident decisions that foster long-term success.”
