Buy-to-let inquiries on rise to intermediaries

Buy-to-let inquiries have risen over the last three months, intermediaries have reported.

Around half of the respondents surveyed in TMA’s November Distribution Indicator reported the rise.

The survey focused on buy-to-let to see whether the return of some lenders to the sector had translated into an increase in inquiries.

Results from the survey found that 47% had experienced an increase in buy-to-let inquiries over the last three months. One in three (33%) noted the return of some
renewed activity but said that inquiry levels has not significantly increased, while 20% reported no increase at all.

Reflecting on current market conditions compared to those at the end of 2009, 54% said they were definitely more confident about the future of the buy-to-let sector than at the same time last year.

A further 32% were slightly more confident, whilst only 14% suggested they were still not confident of current market conditions being any stronger moving forward.

Phil Whitehouse, head of TMA, said: “Buy-to-let remains a key sector in the marketplace, and after a few torrid years it has been good to see it rebuild some solid foundations which now appear to be translating into increased inquiry levels for the intermediary market.

“The emergence and return of some specialist lenders has certainly worked to instil much-needed confidence in this sector, as reflected in the way respondents are more positive looking forward than they were this time last year.
 
“In addition, lenders such as The Mortgage Works and BM Solutions continue to illustrate their commitment to the intermediary market, but it’s clear that the BTL market still has some way to go.

“It’s important that any progression should not be rushed and be allowed to grow organically. However, in a market where access to home ownership is still proving extremely difficult, the private rental sector will continue to benefit from high levels of demand for good-quality housing, thus ensuring more opportunities will continue to arise for intermediaries.”