In a study of the BTL market in 12 European states, including the UK, Germany, Poland and Portugal, the research suggested that the UK had the most defined specialist sector.
In Germany, the study showed that people intended to buy their first property at 45, with this figure dropping to 34 in Poland. The UK also had the most broker focused market, with only 6 per cent of specialist mortgages being written by a broker in Portugal.
17 per cent of landlords in the UK believed that letting was their current main source of income, while this figure was at 0 per cent for both Germany and Poland. However, both believed it would grow to be their main source of income in the future, albeit for fewer investors than in the UK.
Steve Sandiford, head of specialist lending strategy at BM Solutions, said: “Across Europe the norm is to buy well into your 30s. The UK is moving to a more continental European mindset with home ownership no longer the be all and end all.
“While the UK has a clearly defined concept of a BTL mortgage, it appears to be something that is unique. European lenders do not offer specifically underwritten products for landlords in the same way.”
Hugh Nichols, partner at Badbury Berkeley Financial Services, said: “There is apprehension in the UK about becoming a landlord but the UK market is still strong. The German and other European markets are very different and the desire for home ownership is not as strong.”
get the daily news delivered to your inbox
register for the next forum
find the latest industry jobs
