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Landlords rely on mortgage advisers

March 27, 2007 by admin  
Filed under News, News-Mortgages

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Landlords in the UK rely heavily on mortgage advisers when it comes to investing in a property.

That is according to the latest research from Alliance & Leicester which found that 74 per cent of landlords seek advice.

In total, 28 per cent admitted to relying on an adviser “a great deal”, while 46 per cent use them “a fair amount”.

The buy-to-let market is seemingly dominated by landlords who use an adviser, with 55 per cent admitting to relying on one to make them aware of new deals and arranging the actual mortgage.

“From our research, it is clear that advice plays an important part for buy-to-let investors,” said Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester.

“Landlords need their advisers to obtain information that they can’t easily get hold of themselves as well as helping them get the best mortgage product for their needs.

“The fact that half of landlords taking advice (49 per cent) remain loyal to one adviser shows just how much they really do value this relationship,” he added.

The research also found that over a third (40 per cent) of landlords meet with their mortgage broker every month, while nine per cent meet with them on a weekly basis.

Tags: mortgage advisers, landlord, landlords taking advice, deal, month, weekly basis, use, information

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