BTL advice can be for all, specialist lender representatives argue

While the BTL market is moving in a more specialist direction, it should not necessarily preclude advisers from being as active as possible and targeting the sector to secure greater levels of business, a panel of lender representatives has said.

Speaking at an event in Coventry, the lenders were asked whether the specialist nature of buy-to-let meant that advisers also had to be specialist in this area in order to give quality advice.

“It’s yes and no. When it comes to larger portfolios it’s very much a specialism and it’s true that there’s less growth in one to two property landlords, who would be more vanilla buy-to-let clients anyway,” Vida Homeloans corporate sales manager Karen Rodrigues stated.

“However, the more complex buy-to-let business will always need an advisory process. If you’re not in it then you need to educate yourself or you need to have a strong referral process in place.”

Others agreed that the level of increased complexity in the buy-to-let sector played into brokers’ hands. “I think complexity is good for brokers,” OneSavings Bank sales director Adrian Moloney said. “That’s where brokers come into their own. That’s why clients want your advice.”

Kensington Mortgages new business director Craig McKinlay said “BTL should be a market for all”.

“We’ve certainly tired to make it simpler to conduct this type of business. It might look complex, but it doesn’t necessarily have to be and, if you’re not involved, then I think your missing out.”

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