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TODAY'S OTHER NEWS

Lenders remain positive about buy-to-let

Lenders remain positive about prospects for the buy-to-let market despite the Chancellor's tax crackdown.

This is despite the fact that most expect the market to start slowing, according to the inaugural Vantage Point report, from master broker Vantage Finance.

More than eight out of 10 lenders recorded an increase in buy-to-let volumes over the last six months.

However, only 48% of the 32 lenders surveyed predict growth for the next six months.

Lenders remain positive about new sources of demand, with 91% of lenders expecting to see an increase in demand for limited company buy-to-let finance. 

The survey also showed that 81% expect to see an increase in HMO finance and development finance, while 79% expect growth in bridging finance.

The survey also found that nearly a third of lenders saw the buy-to-let stamp duty surcharge as the biggest threat to the market.

Nearly a quarter of lenders also felt the industry is unprepared for the legislative changes which recently came into place under the Mortgage Credit Directive (MCD).

Lucy Hodge, managing director of Vantage Finance, said a short-term dip is to be expected after the last six months.

“Nevertheless, general sentiment remains positive and the impression is that the specialist lending market has much to look forward to.”

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