Landlords rush to independent advice

More than half of landlords are using advisers to arrange a mortgage, according to The Money Centre.

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In research exclusive to Mortgage Adviser, the specialist buy-to-let intermediary found the number of landlords using advisers had risen by 19 per cent since the end of last year to 55 per cent.

One-quarter of landlords who use advisers said they relied on the guidance a great deal, while almost three-quarters said they would contact the same person again.

The research also showed landlords tend to choose the best deal on the market at the time with most landlords gaining an average of 2.6 quotes.

Lynsey Sweales, director of The Money Centre, said: "In the current climate of constant changes in lender activity advisers really come into their own.

"Loyalty to lenders may be tenuous but loyalty to professional advisors is strong. More than two-thirds of landlords who use advisers tell us they would go back to the same person if they needed further professional guidance."

The Money Centre also found despite optimism among landlords being at its lowest level since October 2006, 52 per cent remained positive and thought over all business expectations were either very good or fair.

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