The BTL market has already experienced steady growth this year, with 65 per cent of intermediaries surveyed by the lender saying they had seen an upturn in business.
Many intermediaries expect this trend to continue over the next 12 months, with 11 per cent saying they plan to change their businesses to only deal in BTL work.
Andrew Moss, product development manager at Mortgage Express, said: “This broker feedback is very positive and re-inforces the trends we have been seeing in the BTL market. 2006 has been extremely buoyant for BTL, with tenant demand remaining strong and increasing competition amongst lenders.
“Similarly, for the next 12 months, 35 per cent of brokers expect an increase in their BTL business and this again reflects our positive expectations for the market. Demand is likely to remain positive, and with new lenders coming in to the market, brokers and their clients will benefit from the increased range of options which a competitive market will create.”
Overall, 22 per cent of brokers questioned by Mortgage Express said they had seen a rapid increase in BTL business over the last year, while only 6 per cent had seen a decline.
Jonathan Burridge, managing director of Quantum Mortgage Brokers, said: “We have had an incredible buoyant market place this year but I don’t know how far this can continue. BTL has matured and I think it is going to be up to what happens in the wider market which will dictate. There is growth potential in houses with multiple occupancy but I don’t know how much room there is in the standard BTL market.”
