Mortgages  

Two-thirds of advisers see increase in buy-to-let

Brokers expect an increase in buy-to-let business following an encouraging final quarter of 2013, according to research conducted by NatWest Intermediary Solutions.

Around 67 per cent of the 501 intermediaries surveyed said they experienced an increase in buy-to-let business during the last three months of 2013.

Three out of 10 said business had remained stable with just 4 per cent having seen a drop.

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Three-quarters of brokers believed that they would write more buy-to-let mortgage business this year, with 24 per cent expecting to do about the same and just 2 per cent thinking they will do fewer buy-to-let cases.

Graham Felstead, head of NatWest Intermediary Solutions, said: “The survey results are not a surprise as the recovery in the buy-to-let market has been well documented.

“In the last two years it has made steady progress in terms of the value and volume of applications submitted. What is perhaps unexpected is the very high expectations for the sector’s prospects.

“This optimistic outlook is consistent with the research we conducted on the mainstream residential market which showed that confidence in the market had increased significantly from six months ago.

“We anticipate receiving more buy-to-let business from intermediaries this year.”