Following the announcement of a growth in the number of buy-to-let brokers who deal specifically with high net worth clients, a number of brokers have admitted they are targeting specific markets, including the buy-to-let and remortgage markets.
Nick Chapman, managing director at Leadpoint, revealed he had seen a rise in the number of brokers specifically targeting remortgage and buy-to-let leads. He said: “We have seen a huge amount of interest in buy-to-let and remortgage deals. Some of the brokers we deal with only want to be involved with high net worth clients, which they can do on our site. However, for brokers willing to put the time and effort in, the first-time buyer market is one in which people could focus on.”
Keith Astill, managing director at UCB Homeloans, said it had experienced a rise in the number of brokers interested in the buy-to-let market. “UCB has seen a definite increase in buy-to-let business and in the number of brokers becoming involved with this market. With landlords looking to increase their portfolios over the next year, I think more brokers will become involved in the buy-to-let market.”
Hugh Nichols partner at Badbury Berkeley Financial Services, admitted brokers would look favourably on certain market sectors. He said: “Brokers realise that remortgage customers are guaranteed business. The remortgage market is still largely untapped but is quite an easy stream of income.”
Findings from the Council of Mortgage Lender’s (CML) regulated mortgage survey also revealed a increase in the number of remortgages, from 80,000 in April to 99,000 loans in May. Remortgaging accounted for 38 per cent of all loans, with the CML indicating this reflected many initial fixed rate deals reaching their conclusion.
