Daryl Norkett, head of real estate proposition at Shawbrook Bank, has claimed that there are many factors impacting the outlook for the social rented sector — from rental inflation to a ‘massive’ supply and demand imbalance.
The statement was made during the first Knowledge Bank Criteria clinic hosted by the firm’s founder and CEO Nicola Firth, which focused on all things BTL, including HMOs, MUFBs and limited company lending.
Daryl was joined on the panel by Nicola Firth, founder and CEO at Knowledge Bank, Andrea Glasgow, sales director for specialist mortgages at Hampshire Trust Bank (HTB), Caroline Mirakian, sales and marketing director at United Trust Bank (UTB), Zahira Fayyaz, regional sales manager at Market Financial Solutions (MFS); Alan Kimber, head of sales at OSB Group, Shane Wallace, BDM at LendInvest,; and Liz Syms, CEO at Connect for Intermediaries.
He went on to explain that due to this imbalance, landlords have the ability to choose the best tenant that can pay them the highest rent, which means that that "tenants that don’t meet that bar will potentially get left behind".
Daryl added that he cannot see any way that supply is going to be increasing in the future.
“How that demand is going to be met, is another question,” he said.
Pictured above L-R: Nicola Firth, founder and CEO at Knowledge Bank, Caroline Mirakian, sales and marketing director at UTB, Alan Kimber, head of sales at OSB Group, Shane Wallace, BDM at LendInvest, Daryl Norkett, regional development manager at Shawbrook Bank
