Only 4% of mortgage brokers approved of the Spring Statement, according to research from Landbay.

The buy-to-let lender claims there been a significant level of disappointment within the industry, with 77% of respondents expressing dissatisfaction with the announcements made by Rachel Reeves.

The poll, which targeted mortgage brokers writing BTL business: “Did you approve of the Spring Statement?”

While 77% said they were disappointed, only 4% said they approved. Almost a fifth (19%) said they were not sure.

Rob Stanton, sales and distribution director at Landbay, comments:”The findings highlight a sense of frustration among mortgage professionals, with only a small minority of brokers expressing approval. The significant percentage of brokers who remain uncertain suggests a need for greater clarity and some outright support from policymakers to address the challenges facing the sector.

“The Spring Statement appears to have missed the mark for the vast majority of mortgage introducers, who are on the front lines supporting landlords and investors. 

“At Landbay, we’re committed to listening to brokers and providing the flexible, competitive BTL solutions they need to thrive, regardless of the broader economic landscape. We’re here to work collaboratively to address these challenges and deliver for clients.  

“We’re doing our bit.  But we can’t operate in a vacuum: government policy must also play its part. If Rachel Reeves is serious about growth, she needs to support small business owners like landlords as they look to turn a profit, not hound them out of the private rented sector.”