BTL market optimism bounces back

New research by Natwest Intermediary Solutions has revealed that confidence and optimism in the buy-to-let and new build markets are high amongst brokers.

500 mortgage intermediaries were surveyed by the lender with 58% confirming they had seen an increase in buy-to-let business in the last three months. Only 1 in 20 revealed that they had seen a drop and over a quarter (27%) said that it had remained static.

Looking forward to the next six months, it appears that the market still has room to grow with over half (54%) expecting to do more buy-to-let business than the last six months, with only 4% expecting to do less. A third (32%) are forecasting that their buy-to-let business will remain stable.

Turning to new build, well over half (57%) of brokers were optimistic about the prospects for the sector this year. Around a quarter (25%) were pessimistic with 1 in 6 (17%) saying they were unsure.

Of those that said they had a new build development in their area, the majority (57%) believe they will write more business this year compared to last year. A fifth (21%) said they weren’t sure whilst 16% thought they would do less. A third (32%) of all brokers in the survey said they didn’t have any new build developments in their area.