However, this is a resilient sector, providing people with much-needed homes, and there are plenty of growth opportunities available.
According to recent research from estate agents Ludlow Thompson, the number of buy-to-let investors in the UK is on the rise. As a bank that provides specialist mortgages, including buy-to-let and HMO, we are continuing to see this growth first hand.
We believe brokers have a vital role to play in giving customers access to a wider range of lenders and financing options and that this is helping to ensure the buy-to-let market continues to thrive and grow.
The Specialist Mortgage team is also seeing an increase in bridging activity. This is for a number of reasons including an increase in the length of time it is taking to get mortgage approval and also a rise in the amount of refurbishment taking place. Indeed, with house price growth slowing, it is understandable that more people may choose to improve rather than move properties.
We are always keen to hear from specialist mortgage brokers that are interested in working with us and making the most of the buy-to-let, bridging, short-term lending and commercial mortgage opportunities out there.
If you are interested in finding out more, contact our Specialist Mortgages team.
Mark Sismey-Durrant
Chief Executive Officer