The buy-to-let market has been a true beacon of light as the UK aims to bounce back from the pandemic.
According to figures from Shawbrook Bank, the value of the private sector rose by 5.8 per cent in 2021 to a staggering £1.4 trillion, while 42 per cent of landlords have seen greater demand for their properties over the last year.
No wonder then that landlords are feeling optimistic, despite challenges such as the three per cent increase in stamp duty on second properties that was introduced back in 2016, and upcoming rules stating that new rental properties must have an Energy Performance Certificate rating of C by 2025.
The Shawbrook study showed that 67 per cent of landlords feel confident about the future of the property market this year, while 34 per cent plan to buy a property over the next 12 months.
It’s clear that people continue to see residential properties as a strong investment option, which in turn means mortgage brokers have a great opportunity to target and work with buy-to-let landlords.
As part of our Growth Series, we wanted to give you some useful information, so you can provide the best possible service to investors.
Look at what other brokers are doing
If you’re competing with other brokers to attract landlord clients, take a close look at how your rivals are servicing this market. Visit their websites to work out how they’re promoting themselves to landlords, what type of content they’re sharing and publishing, and what type of language they’re using.
What are they doing particularly well? What could you do better? Do they have a particular niche and could you create a unique selling point for yourself?
Create a landlord persona
Brands often create marketing personas - a fictional representation of the type of customer they want to attract. This can be based on characteristics such as their age, occupation, income, lifestyle goals and the challenges they may face.
A persona helps you to think about your typical customer/client and makes it easier to keep your marketing centred around customer needs and priorities. So if, for instance, you want to create blogs and videos for your website, keeping your persona in mind helps you make sure they’re relevant and genuinely useful to your target audience.
Well written, informative blogs can not only boost your brand’s visibility in search engines when landlords are looking for information online, they can also help you position yourself as a thought leader on buy-to-let mortgages, which can set you apart from other brokers.
Use market research to develop your buyer persona, so you can be confident it hits the mark and truly resonates with your target audience.
If you can show landlords that you understand their challenges and their objectives, and that you have the expertise to help them, they’ll be much more likely to contact you for advice.
Show landlords you’re the best
Every mortgage broker’s website will showcase their credentials, such as how many years’ experience they have in the industry and any qualifications and awards they’ve picked up along the way.
But if a landlord is going through several websites to see who can best service their needs, what is there that sets one apart from the other?
A client case study, with an enthusiastic client talking about their experience is a great way to differentiate yourself from the competition. Case studies, or even just quotes from clients offer an authentic, independent, real-world insight into another landlord’s dealings with your firm.
You could email satisfied clients asking them to leave reviews on websites such as Google and Trustpilot. If you’re not sure how to ask clients to leave a review, use our simple free Review Email Generator to create a personalised email to send out to all your clients.
Building a good reputation is an important way to attract new and repeat business, gain referrals and become a trusted name in the buy-to-let landlord community. Consistently providing an excellent client experience, exceeding customer expectations and ensuring that you deliver a first-class service to landlords will put you on the map.
Delighted clients are significantly more likely to agree to leave you a review or be the subject of a case study. And most importantly, they’re much more likely to recommend your brokerage to friends, family and business associates.
Good luck with marketing your business. We hope that our tips help you capitalise on the opportunities that the buy-to-let market has to offer.
Get notified of new content
Economics 101: The Relationship Between the Mortgage Market and the Economy
Information on this site is for use by authorised intermediaries only and should not be relied upon by anyone else.
Accord Mortgages Limited is authorised and regulated by the Financial Conduct Authority. Accord Mortgages Limited is entered in the Financial Services Register under registration number 305936. Buy to Let mortgages for business purposes are not regulated by the Financial Conduct Authority. Accord Mortgages Limited is registered in England No: 2139881. Registered Office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Accord Mortgages is a registered Trade Mark of Accord Mortgages Limited.
References to 'YBS Group' or 'Yorkshire Group' refer to Yorkshire Building Society, the trading names under which it operates (Chelsea Building Society, the Chelsea, Norwich & Peterborough Building Society, N&P and Egg) and its subsidiary companies.
All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security. Calls to 0800 numbers are free of charge from a landline or mobile. Calls to 03 numbers are charged at the same standard network rate as 01 or 02 landline numbers, even when calling from a mobile.