Be the hero for your buy-to-let clients

This surge, of course, is a result of the stamp duty hike which came into effect two years ago (yes, really!). The surcharge for buy-to-let and second homes came into play in April 2016 and in the months and weeks leading up to it we saw a huge increase in the number of landlords looking to snap up properties at the old rate of stamp duty in order to make themselves a hefty saving.

Many of the deals taken out were for a period of two years and so here we find ourselves again in a similar position with landlords looking for new products.

Of course the landscape in the buy-to-let world is different now to what it was back in 2016. Since the stamp duty surcharge came into play we’ve seen criteria in the buy-to-let market become much stricter. The Prudential Regulation Authority’s rules on stress testing essentially mean landlords who were borrowing at close to the maximum LTV may find they struggle to meet affordability assessments this time round.

This is where brokers come in. The mainstream media is already putting out warnings that landlords will not be able to remortgage as a result of criteria changes. Whilst I’m normally against such scare mongering – and indeed, don’t necessarily agree with it in this instance either – I think what these reports do is provide an opportunity for brokers.

Your landlords will be reading these reports and will need your guidance and reassurance. If you haven’t done so already you should be revisiting your back book, contacting past clients and making them aware you can help them find the best deal.

Buy-to-let investors need advice more now than ever before so use the negativity and the fear in the mainstream press to your advantage. Be the hero for your clients and help solve their problems. They’ll thank you for it with repeat business.