London buy-to-let bounces back

London’s buy-to-let market saw the most purchase applications across the UK in the second quarter of 2018 for the first time in a year, data shows.

London also saw an 8.97% increase in buy-to-let completions in the second quarter from the one before. This is the first quarter in which London has had the biggest share in completions (15.79%), since Q3 of 2017. The London market has slowed of late, these findings may reflect a sign of recovery in investment in the city.

Whilst property prices and stamp duty costs have undoubtedly quelled the investment ambitions of some landlords in the capital, there are those still willing to put their faith and money into London’s bricks and mortar.

In all 15.34% of applications were in London, overtaking the South East (13.76%). The North West recorded stronger activity than previously with an 11.11% share. The market has seen an overall increase in the volume of buy-to-let mortgage purchase applications amongst new and existing landlords in the first two-quarters of 2018.

More broker business than ever before

There is a growing role for specialist brokers in an increasingly complex buy to let market. The bewildering choice of products continues to grow, and the 2017 rule changes around buy to let add significantly to the intricacy of matching borrower to mortgage.

Landlords are now more than ever before utilising the brokers expertise and knowledge to secure the correct mortgage, one client said “I have used a local independent broker for the last two years to extend my buy-to-let portfolio. Yes, I do pay fees but the service and savings I have made far out ways the fees I pay, so all in all I am very pleased with the results.”

Can we help?

If you are looking for a new or re-mortgage ion the buy-to-let field please do make contact and one of our advisers will be happy to assist.