Brokers Expect Buy To Let Market To Grow In 2020

News at Household | 18/02/2020

There has been a lot of opinions as to what will happen to the property and rental market in the UK in 2020. There is a considerable level of optimism in the market, but there are more concerns regarding the rental market. The impending March Budget may provide some signposts as to what is likely to happen this year, but it appears as though some brokers are confident of an upturn in 2020.

Paragon have carried out research and they believe one in five brokers believe they will introduce more BTL business this year. 11% of brokers believe there will be a reduction. Brokers also believe they will carry out more business this year.

New research from Paragon has revealed that found that one in five brokers expects to introduce more buy-to-let business in 2020, compared to 11% who say it will fall.

Tenants and landlords need support

There is no denying there is significant demand for rental property, and this isn’t going to go away. Even though many people expect the Government to introduce measures that assist first-time buyers in the March Budget, there won’t be enough help to push everyone on to the property ladder. Therefore, there is a need to ensure tenants and people who can’t afford to buy or don’t want to buy are still supported.

This is one of the strongest reasons why many landlords plan on remaining in the property market. There is a demand for rental property, and they know they can reach tenants. It is not as the rental market is easy or straightforward, but with guidance from professionals, landlords can make informed decisions.

We can help local landlords

This is an area we can help, and no matter what views a landlord has on the rest of the year, we are here to help. Whether you need assistance in starting your landlord business, or you are looking for guidance in reaching out to tenants, we can assist you. We also provide expertise in staying in touch with regulations, which we know is a challenging issue for many landlords.

Richard Rowntree is the Paragon Managing Director of Mortgages, and he said; “Buy-to-let lending has been driven by remortgage business in recent years, so it’s great to see the proportion of lending for portfolio extension purposes increase and hit its highest level for nearly three years. It’s also encouraging to see that the balance of brokers expecting to write more buy-to-let business is positive for 2020 as confidence has been subdued for much of the past four years. These are green shoots and we hope that they will continue throughout this year on the back of a more certain regulatory, economic and political environment.”

If you plan on letting property, we can arrange a valuation for you. At Household, we aim to connect you with likely tenants, and we can help you find the most suitable tenants. When it comes to being a successful landlord in Toddington and Dunstable, we are your local agents, so contact us today.