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Broker sees BTL soar as landlords seek advice

Buy-to-let mortgage broker The Money Centre says it has had its third busiest month ever in March after securing over £186m business.

Marketing and PR director Lynsey Sweales says many landlords are turning to brokers in current market conditions.

She says: “Now is a time when many landlords are using brokers to source buy-to-let mortgage finance. It can be difficult to find out about rates available and brokers are proving even more popular in a time when the mortgage market is contracting.

“We are also finding that some landlords are securing mortgage offers three to four months before their tie-in periods are up so they can secure a competitive rate and protect themselves.”

Sweales says the firm is relatively unaffected by the recent spate of providers withdrawing products with little notice due to the efficiency of its systems. She says: “We package for a number of lenders and have on-site underwriters, so we are able to process a case as quickly as possible.”


Performance arts

A growing problem is how to compare performance after fees. Total expense ratios have become a standard way of comparing funds on a cost basis and although there are flaws in the system, at least it provides some point of commonality.


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