The vast majority of BTL landlords want to use a broker

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73% of portfolio purchase-to-allow landlords say they like to obtain finance via a broker somewhat than heading direct to a lender, according to new exploration from Hodge.

Furthermore, Hodge identified that 71% of larger traders (with portfolios of between £2m – £50m) specified that a broker had saved them income by getting them a fantastic deal.

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The exploration also uncovered that 40% of purchase-to-allow landlords use a broker as they observed exploring a suitable mortgage products on their own a aggravating activity, with annoyances such as fascination rates (35%), absence of clarity overcharges (35%), and home finance loan/ financial loan underwriting (31%).

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Mike Clifford, head of professional propositions at Hodge, claimed: “Our exploration reveals debtors obviously benefit the aid of a broker to find them the greatest offer and have faith in them to come across a lender that fits their wants. With so numerous debtors putting their belief in brokers to uncover them a loan that satisfies them, brokers are found as a vital website link concerning creditors and buyers – with the added profit of getting rid of frustrations for landlords.

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“The residential market place is nonetheless extremely buoyant and lots of buy-to-let landlords are on the lookout for new attributes to increase to their portfolio. When it arrives to creditors they want versatility, velocity and efficiency, a little something we attempt to accomplish right here at Hodge.”

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Mike additional: “Hodge has a compact, professional residential investment staff who intention to present a bespoke and flexible assistance to both brokers and traders. Getting to know our shoppers, listening to their feedback and holding them in the loop when it comes to standards modifications and item enhancements lets us to offer larger versatility and match the proper product or service to the proper investor.

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“The Hodge portfolio acquire-to-let financial loan lets landlords to handle their belongings below one particular bank loan, with the flexibility to take out and include houses, making sure a significantly additional streamlined, versatile merchandise, which, according to our investigation, is just want landlords – and brokers – are looking for.”

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