Landlords prefer mortgage professionals who can also provide advice on tax and regulatory issues, a new study shows.
A survey of 500 landlords by Butterfield Mortgages asked them to name three qualities they value most when choosing a buy-to-let agent.
It found that ‘tax and regulatory expertise’ was the most valued quality, with 38% of respondents citing this, followed by ‘access to a wide range of flexible, tailor-made or specialist financial solutions’, provided by 36% were selected. from landlords and “access to exclusive products not directly available to borrowers,” selected by 34%.
Less important agent qualities, selected by less than 30% of landlords, included “clients with similar demographics,” “a wide range of lender partnerships,” and “local real estate market expertise.”
Butterfield chief executive Alpa Bhakta said: “This investigation comes at a crucial time, with Rachel Reeves’ budget still fresh in people’s minds. It is notable that tax and regulatory expertise ranks higher than product range, highlighting the continued uncertainty among landlords about the potential impact of government policy on the buy-to-let market.
“It is clear that agents and lenders need to focus on providing access to up-to-date, expert guidance to help landlords tackle these challenges effectively.
“Our research also shows that despite recent interest rate cuts, borrowers still rely on brokers who offer a wide range of financial options, allowing them to adapt to the evolving buy-to-let market with confidence.
“In addition, landlords expect agents to provide a personal, tailor-made service that meets their specific needs. The research underlines the value that landlords attach to high-quality, people-oriented services.
“Lenders should also consider these findings carefully – and they should also recognize their role in supporting both brokers and their customers.”