More than three quarters of mortgage brokers (77%) have expressed dissatisfaction with the announcements made by the Chancellor in her Spring Statement, new Landbay research has shown.

A study by the buy-to-let (BTL) lender revealed that just 4% of brokers approved of the announcements that Rachel Reeves made in March.

Landbay’s poll targeted mortgage brokers writing BTL business and also revealed that 19% of respondents remained unsure about the Chancellor’s changes.

While 77% said they were disappointed, only 4% said they approved. Almost a fifth (19%) said they were not sure.

Sales and distribution director at Landbay, Rob Stanton, said that the findings highlight a “sense of frustration” among mortgage professionals, with only a small minority of brokers expressing approval.

“The significant percentage of brokers who remain uncertain suggests a need for greater clarity and some outright support from policymakers to address the challenges facing the sector,” Stanton commented.

“The Spring Statement appears to have missed the mark for the vast majority of mortgage introducers, who are on the front lines supporting landlords and investors.”

He added: “If Rachel Reeves is serious about growth, she needs to support small business owners like landlords as they look to turn a profit, not hound them out of the private rented sector.”

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