It’s Not Always What You Know, It’s Also What Others Know
Pricing, terms, exclusive deals and premiums are all important considerations for landlords when financing or refinancing their buy-to-let investments. But that doesn’t mean you have to be an expert across all these factors in what is an already complex marketplace.
Recent data from Moneyfacts outlined that the number of buy-to-let products currently available has reached its highest level since the financial crisis. Landlords now have the choice of 2,162 BTL mortgage products. The largest number available prior to this was in October 2007, when there were 3,305 products on the market.
This growth in product numbers (and choice), plus the fact that some products or features are only available through limited sources, outlines just how important it is to seek specialist advice. For example, we currently have an exclusive product with Together available as first or second-charge, offering both repayment and interest-only options. This is not only a highly competitive product, it also includes criteria which are not widely available on many high-street deals. It is one example of the kind of innovative deals which are out there but can sometimes go under the radar if the right questions aren’t asked or the right levels of advice sought.
We all realise that pricing is only part of the BTL finance puzzle. Landlords have, and will always have, different needs at different times in the lending cycle. As such, the value attached to the advice process should never be underestimated, especially during some lingering political and economic uncertainty.