Expert knowledge around tax and regulatory matters are most likely to influence a landlord’s decision when choosing a broker, according to research from Butterfield Mortgages.
The mortgage provider surveyed 501 UK landlords and 38% identified this as the most valued quality in a broker.
Landlords, who were asked to choose up to three qualities they value in a broker, identified a candidate’s access to flexible, bespoke or specialist solutions as the next most popular quality (for 36% of respondents).
The third most popular quality landlords look for in a broker was the ability to access products not available directly to a borrower, with 34% of respondents highlighting this.
These qualities were more popular than other considerations such as the quality of a broker’s customer service, speed of communication and experience of working with landlords from a similar demographic.
The least popular quality, with 26% of respondents selecting this, was a broker’s expertise in a landlord’s local property market.
Commenting on the findings, Butterfield CEO Alpa Bhakta said recent taxation changes from the chancellor in the Autumn Budget are influencing what landlords wanted from a broker.
“Evidently, brokers and lenders must focus on providing access to up-to-date, expert guidance to help landlords navigate these challenges effectively,” added Alpa.
“[Lenders] need to recognise their role in supporting both brokers and their clients as well.
“It’s crucial for the entire sector to collaborate, ensuring that BTL landlords can make better-informed, confident decisions that foster long-term success.”
